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

CoreCard (NYSE:CCRD) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $15.00 price target on the stock, down from their previous price target of $19.00. B. Riley’s price target indicates a potential upside of 7.99% from the stock’s current price.

CoreCard Stock Down 4.6 %

CCRD opened at $13.89 on Thursday. CoreCard has a one year low of $10.02 and a one year high of $21.93. The firm has a market capitalization of $113.36 million, a P/E ratio of 46.30 and a beta of 0.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.08 and a quick ratio of 5.08. The company has a fifty day moving average price of $13.76 and a 200-day moving average price of $13.12.

CoreCard (NYSE:CCRD) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. CoreCard had a net margin of 3.03% and a return on equity of 4.87%. The firm had revenue of $13.80 million for the quarter, compared to analysts’ expectations of $12.13 million. During the same quarter last year, the company posted $0.22 EPS. Equities research analysts expect that CoreCard will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoreCard

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

About CoreCard

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.