NCR Co. (NYSE:NCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $45.00 target price on the information technology services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.80% from the stock’s previous close.
According to Zacks, “NCR is one of the world’s leading consumer transaction technology providers. The stock has outperformed the broader sector over the last one year. We believe, NCR’s growing exposure in the self-service kiosk space is encouraging, given the tremendous growth prospects. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. This creates huge opportunities for companies like NCR. Going ahead, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. However, intense competition from peers and a high debt burden remain concerns.”
A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $51.00 target price on shares of NCR in a research report on Friday, May 12th. TheStreet downgraded shares of NCR from a “b” rating to a “c+” rating in a research report on Thursday, April 20th. Benchmark Co. assumed coverage on shares of NCR in a research report on Thursday, April 13th. They issued a “buy” rating and a $55.00 target price for the company. CIBC upgraded shares of NCR from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 16th. Finally, Oppenheimer Holdings Inc. upgraded shares of NCR from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Thursday, March 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $46.29.
Shares of NCR (NYSE:NCR) opened at 40.25 on Tuesday. The stock’s 50 day moving average is $42.19 and its 200 day moving average is $42.60. The stock has a market capitalization of $4.88 billion, a PE ratio of 28.17 and a beta of 1.82. NCR has a 52 week low of $25.20 and a 52 week high of $49.90.
NCR (NYSE:NCR) last released its earnings results on Thursday, April 20th. The information technology services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.10. NCR had a net margin of 4.13% and a return on equity of 76.86%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that NCR will post $3.37 EPS for the current fiscal year.
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In other news, major shareholder Holdings L.P. Blackstone III sold 3,002,753 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $48.47, for a total transaction of $145,543,437.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP J. Robert Ciminera sold 3,086 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $42.48, for a total transaction of $131,093.28. Following the transaction, the executive vice president now owns 9,888 shares in the company, valued at approximately $420,042.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,479 shares of company stock worth $146,094,674 in the last 90 days. 1.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky acquired a new position in NCR during the first quarter worth $1,124,000. FNY Partners Fund LP acquired a new position in NCR during the first quarter worth $107,000. Janus Capital Management LLC increased its position in NCR by 16.2% in the first quarter. Janus Capital Management LLC now owns 193,200 shares of the information technology services provider’s stock worth $8,825,000 after buying an additional 26,900 shares in the last quarter. Gareth Morgan Investments Limited Partnership acquired a new position in NCR during the first quarter worth $996,000. Finally, Credit Suisse AG increased its position in NCR by 79.6% in the first quarter. Credit Suisse AG now owns 222,053 shares of the information technology services provider’s stock worth $10,143,000 after buying an additional 98,422 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.
NCR Corporation is a provider of Omni-channel technology solutions that enable businesses connect, interact and transact with their customers. The Company operates through three segments: Software, Services and Hardware. It sells a portfolio of hardware, software and services that combine to provide businesses with solutions.
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