Federated Hermes Inc. Buys 111,768 Shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Federated Hermes Inc. raised its stake in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 1,729.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 118,231 shares of the software maker’s stock after purchasing an additional 111,768 shares during the period. Federated Hermes Inc. owned 0.24% of Alarm.com worth $7,512,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ALRM. Quest Partners LLC lifted its stake in shares of Alarm.com by 273.6% in the 2nd quarter. Quest Partners LLC now owns 54,848 shares of the software maker’s stock valued at $3,485,000 after purchasing an additional 40,167 shares during the last quarter. Acadian Asset Management LLC raised its position in Alarm.com by 31.0% during the 2nd quarter. Acadian Asset Management LLC now owns 142,667 shares of the software maker’s stock valued at $9,054,000 after purchasing an additional 33,785 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Alarm.com by 8.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the software maker’s stock valued at $151,000 after purchasing an additional 183 shares in the last quarter. Summit Creek Advisors LLC raised its position in Alarm.com by 11.5% during the 2nd quarter. Summit Creek Advisors LLC now owns 298,422 shares of the software maker’s stock valued at $18,962,000 after purchasing an additional 30,849 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Alarm.com by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 13,283 shares of the software maker’s stock valued at $844,000 after acquiring an additional 232 shares during the period. Institutional investors own 91.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Alarm.com in a research note on Friday, September 6th. They set a “neutral” rating and a $64.00 target price on the stock. StockNews.com raised Alarm.com from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Barclays reduced their price target on Alarm.com from $78.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.00.

Alarm.com Stock Down 0.4 %

Alarm.com stock opened at $54.08 on Wednesday. Alarm.com Holdings, Inc. has a 1-year low of $49.70 and a 1-year high of $77.29. The company has a debt-to-equity ratio of 1.52, a current ratio of 9.25 and a quick ratio of 8.70. The stock has a market cap of $2.71 billion, a PE ratio of 32.00, a P/E/G ratio of 3.26 and a beta of 0.90. The stock’s fifty day moving average is $62.44 and its two-hundred day moving average is $65.82.

Alarm.com (NASDAQ:ALRM) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $233.80 million for the quarter, compared to analyst estimates of $227.35 million. Alarm.com had a return on equity of 13.00% and a net margin of 11.92%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. On average, sell-side analysts expect that Alarm.com Holdings, Inc. will post 1.4 EPS for the current fiscal year.

Insider Activity

In related news, CFO Steve Valenzuela sold 7,400 shares of Alarm.com stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $60.27, for a total transaction of $445,998.00. Following the completion of the transaction, the chief financial officer now directly owns 37,500 shares in the company, valued at approximately $2,260,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Daniel Ramos sold 9,476 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $61.81, for a total transaction of $585,711.56. Following the completion of the sale, the insider now directly owns 41,100 shares of the company’s stock, valued at approximately $2,540,391. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steve Valenzuela sold 7,400 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $60.27, for a total transaction of $445,998.00. Following the sale, the chief financial officer now directly owns 37,500 shares of the company’s stock, valued at $2,260,125. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Alarm.com Company Profile

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.