CoreCard (NYSE:CCRD) Downgraded to “Neutral” at B. Riley

B. Riley downgraded shares of CoreCard (NYSE:CCRD) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have $15.00 target price on the stock, down from their prior target price of $19.00.

CoreCard Stock Up 0.7 %

Shares of NYSE CCRD opened at $13.51 on Thursday. The firm has a market capitalization of $110.26 million, a price-to-earnings ratio of 45.03 and a beta of 0.41. The stock has a 50 day moving average price of $13.80 and a 200 day moving average price of $13.16. 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 has a 52-week low of $10.02 and a 52-week high of $21.93.

CoreCard (NYSE:CCRD) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.11 EPS for the quarter, topping the consensus estimate 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 net margin of 3.03% and a return on equity of 4.87%. During the same quarter in the previous year, the firm earned $0.22 EPS. Sell-side analysts expect that CoreCard will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On CoreCard

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCRD. Vanguard Group Inc. grew its position in shares of CoreCard by 0.8% during the first quarter. Vanguard Group Inc. now owns 455,943 shares of the company’s stock worth $5,038,000 after acquiring an additional 3,675 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of CoreCard by 0.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 307,771 shares of the company’s stock valued at $4,490,000 after acquiring an additional 1,890 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of CoreCard by 31.3% during the 1st quarter. Acadian Asset Management LLC now owns 142,431 shares of the company’s stock valued at $1,573,000 after purchasing an additional 33,945 shares in the last quarter. Monarch Capital Management Inc. boosted its holdings in shares of CoreCard by 1.0% during the 2nd quarter. Monarch Capital Management Inc. now owns 92,750 shares of the company’s stock worth $1,353,000 after buying an additional 925 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of CoreCard by 3.1% in the second quarter. American Century Companies Inc. now owns 34,920 shares of the company’s stock worth $509,000 after acquiring an additional 1,061 shares during the last quarter. Hedge funds and other institutional investors own 43.90% of the company’s stock.

CoreCard Company Profile

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.