Lapides Asset Management LLC increased its holdings in shares of NCR Co. (NYSE:NCR) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 237,580 shares of the information technology services provider’s stock after acquiring an additional 13,100 shares during the quarter. NCR comprises 2.4% of Lapides Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Lapides Asset Management LLC owned about 0.19% of NCR worth $4,115,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of NCR. Norges Bank acquired a new position in NCR during the fourth quarter worth about $52,738,000. Eminence Capital LP acquired a new position in NCR in the 1st quarter valued at about $16,306,000. Fuller & Thaler Asset Management Inc. boosted its holdings in NCR by 49.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,489,191 shares of the information technology services provider’s stock valued at $44,059,000 after purchasing an additional 822,522 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in NCR by 27.1% in the 4th quarter. Macquarie Group Ltd. now owns 2,334,952 shares of the information technology services provider’s stock valued at $82,097,000 after purchasing an additional 497,918 shares during the last quarter. Finally, Crescent Grove Advisors LLC boosted its holdings in NCR by 188.7% in the 1st quarter. Crescent Grove Advisors LLC now owns 554,486 shares of the information technology services provider’s stock valued at $9,814,000 after purchasing an additional 362,420 shares during the last quarter. Hedge funds and other institutional investors own 89.99% of the company’s stock.
In related news, CAO Beth Potter sold 19,534 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $19.95, for a total transaction of $389,703.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by corporate insiders.
NCR (NYSE:NCR) last announced its earnings results on Tuesday, July 28th. The information technology services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. NCR had a net margin of 6.72% and a return on equity of 31.37%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, research analysts expect that NCR Co. will post 1.53 EPS for the current fiscal year.
Several research firms have weighed in on NCR. Benchmark decreased their target price on shares of NCR from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. JPMorgan Chase & Co. decreased their target price on shares of NCR from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday. Oppenheimer reiterated a “buy” rating and issued a $25.00 target price (up from $20.00) on shares of NCR in a report on Friday, May 1st. Morgan Stanley boosted their price target on shares of NCR from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $32.00 price target on shares of NCR in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.38.
NCR Company Profile
NCR Corporation provides software and services for the financial, retail, hospitality, telecommunications, and technology industries worldwide. The company's Software segment offers industry-based software platforms, applications, and application suites for the financial services, retail, hospitality, and small business industries; and cash management software, video banking software, fraud and loss prevention, check and document imaging, remote-deposit capture, and customer-facing mobile and digital banking applications for the financial services industry.
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