Zacks Investment Research downgraded shares of CardConnect Corp. (NASDAQ:CCN) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “CardConnect Corp. provides payment processing and technology solutions primarily in the United States. The company offers CardPointe, a reporting and transaction management portal which provides mobile, terminal and integrated payment solutions; CardSecure, a gateway integrated with the Oracle, SAP and JD Edwards ERP systems which secures transactions through data breach protection and PCI scope reduction. It serves small-to-midsize businesses, related mobile app as well as enterprise-level organizations. CardConnect Corp. is headquartered in King of Prussia, Pennsylvania. “

Several other analysts also recently commented on the stock. Cantor Fitzgerald started coverage on shares of CardConnect Corp. in a research report on Thursday, September 29th. They set a buy rating and a $12.00 price objective on the stock. BTIG Research started coverage on shares of CardConnect Corp. in a research report on Friday, September 23rd. They set a buy rating and a $14.00 price objective on the stock. William Blair restated an outperform rating on shares of CardConnect Corp. in a research report on Friday, January 6th. Finally, Cowen and Company started coverage on shares of CardConnect Corp. in a research report on Tuesday, November 22nd. They set an outperform rating and a $13.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $12.80.

CardConnect Corp. (NASDAQ:CCN) traded down 1.44% during mid-day trading on Tuesday, reaching $13.70. 323,124 shares of the company’s stock traded hands. CardConnect Corp. has a one year low of $8.14 and a one year high of $14.15. The firm’s 50-day moving average price is $11.20 and its 200 day moving average price is $10.13. The firm’s market cap is $393.89 million.

CardConnect Corp. (NASDAQ:CCN) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.09. The firm had revenue of $154 million for the quarter, compared to the consensus estimate of $153.70 million. On average, equities analysts forecast that CardConnect Corp. will post $0.38 EPS for the current year.

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CardConnect Corp. Company Profile

CardConnect Corp., formerly FinTech Acquisition Corp., is a provider of payment processing and technology solutions. The Company has developed advanced payment solutions using point-to-point encryption (P2PE) and tokenization. The Company’s small-to-midsize business offering, CardPointe, is a platform that includes a reporting and transaction management portal, which extends to a native mobile application.

5 Day Chart for NASDAQ:CCN

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