CoreCard (NYSE:CCRD) Trading 0.3% Higher – Time to Buy?

CoreCard Co. (NYSE:CCRD) shot up 0.3% during trading on Thursday . The company traded as high as $19.21 and last traded at $18.65. 47,924 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 39,693 shares. The stock had previously closed at $18.59.

Analysts Set New Price Targets

Separately, B. Riley downgraded shares of CoreCard from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $15.00 in a research report on Thursday, October 3rd.

CoreCard Trading Up 5.7 %

The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $14.98 and a 200-day moving average price of $14.01. The firm has a market capitalization of $155.71 million, a PE ratio of 40.22 and a beta of 0.39.

Institutional Trading of CoreCard

Several institutional investors and hedge funds have recently modified their holdings of CCRD. Barclays PLC increased its stake in CoreCard by 853.3% in the third quarter. Barclays PLC now owns 5,100 shares of the company’s stock valued at $74,000 after purchasing an additional 4,565 shares during the last quarter. FMR LLC grew its holdings in CoreCard by 72.0% in the 3rd quarter. FMR LLC now owns 6,511 shares of the company’s stock valued at $95,000 after buying an additional 2,725 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in CoreCard in the 2nd quarter valued at about $160,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of CoreCard during the 2nd quarter valued at about $145,000. Finally, American Century Companies Inc. lifted its holdings in shares of CoreCard by 3.1% during the 2nd 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 period. Hedge funds and other institutional investors own 43.90% of the company’s stock.

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.