CoreCard (NYSE:CCRD) Rating Lowered to Neutral at B. Riley

by · The Markets Daily

CoreCard (NYSE:CCRD – Get Free Report) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $19.00. B. Riley’s target price would indicate a potential upside of 11.03% from the stock’s previous close.

CoreCard Trading Up 0.7 %

NYSE CCRD opened at $13.51 on Thursday. The stock has a market cap of $110.26 million, a P/E ratio of 45.03 and a beta of 0.41. CoreCard has a fifty-two week low of $10.02 and a fifty-two week high of $21.93. The stock has a 50 day simple moving average of $13.80 and a two-hundred day simple moving average of $13.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.08 and a current ratio of 5.08.

CoreCard (NYSE:CCRD – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $13.80 million during the quarter, compared to analyst estimates of $12.13 million. CoreCard had a return on equity of 4.87% and a net margin of 3.03%. During the same quarter last year, the firm posted $0.22 earnings per share. On average, analysts forecast that CoreCard will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On CoreCard

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in CoreCard by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 455,943 shares of the company’s stock valued at $5,038,000 after acquiring an additional 3,675 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of CoreCard in the 2nd quarter valued at approximately $145,000. American Century Companies Inc. boosted its position in shares of CoreCard by 3.1% during the second quarter. American Century Companies Inc. now owns 34,920 shares of the company’s stock valued at $509,000 after purchasing an additional 1,061 shares in the last quarter. Acadian Asset Management LLC grew its stake in CoreCard by 31.3% in the first quarter. Acadian Asset Management LLC now owns 142,431 shares of the company’s stock worth $1,573,000 after purchasing an additional 33,945 shares during the period. Finally, Monarch Capital Management Inc. raised its holdings in CoreCard by 1.0% in the second quarter. Monarch Capital Management Inc. now owns 92,750 shares of the company’s stock worth $1,353,000 after purchasing an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 43.90% of the company’s stock.

About CoreCard

(Get Free Report)

CoreCard Corporation, together with its subsidiaries, offers technology solutions and processing services to the financial technology and services market in the United States, Europe, and the Middle East. It designs, develops, and markets a suite of software solutions to program managers, accounts receivable businesses, financial institutions, retailers, and processors to manage their credit and debit cards, prepaid cards, private label cards, fleet cards, buy now pay later programs, loyalty programs, and accounts receivable and loan transactions.

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