First Mercantile Trust Co. Takes Position in NCR Corporation (NCR)
First Mercantile Trust Co. acquired a new position in shares of NCR Corporation (NYSE:NCR) during the second quarter, Holdings Channel reports. The fund acquired 8,547 shares of the information technology services provider’s stock, valued at approximately $349,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FNY Partners Fund LP acquired a new position in NCR Corporation during the first quarter valued at $107,000. Bronfman E.L. Rothschild L.P. boosted its position in NCR Corporation by 5.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,364 shares of the information technology services provider’s stock valued at $108,000 after buying an additional 124 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in NCR Corporation during the first quarter valued at $114,000. James Investment Research Inc. acquired a new position in NCR Corporation during the first quarter valued at $152,000. Finally, Highbridge Capital Management LLC acquired a new position in NCR Corporation during the first quarter valued at $216,000. Institutional investors and hedge funds own 89.06% of the company’s stock.
Shares of NCR Corporation (NCR) opened at 35.39 on Friday. The stock has a market cap of $4.30 billion, a PE ratio of 21.81 and a beta of 1.88. The company’s 50-day moving average price is $38.86 and its 200-day moving average price is $42.07. NCR Corporation has a 52-week low of $29.83 and a 52-week high of $49.90.
NCR Corporation (NYSE:NCR) last issued its earnings results on Thursday, July 20th. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. NCR Corporation had a return on equity of 87.62% and a net margin of 4.90%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, equities research analysts forecast that NCR Corporation will post $3.37 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on NCR. BidaskClub cut NCR Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. TheStreet upgraded NCR Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 20th. Benchmark Co. restated a “buy” rating and issued a $55.00 price target on shares of NCR Corporation in a research note on Friday, July 21st. Royal Bank Of Canada restated a “buy” rating on shares of NCR Corporation in a research note on Sunday, July 16th. Finally, Zacks Investment Research cut NCR Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.29.
NCR Corporation Company Profile
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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