CoreCard (NYSE:CCRD) Trading 1.4% Higher – Still a Buy?

Shares of CoreCard Co. (NYSE:CCRD) shot up 1.4% during mid-day trading on Monday . The stock traded as high as $19.90 and last traded at $19.74. 9,826 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 38,845 shares. The stock had previously closed at $19.46.

Analysts Set New Price Targets

Separately, B. Riley reaffirmed a “neutral” rating and issued a $21.00 price objective (up from $16.00) on shares of CoreCard in a research report on Friday, February 21st.

CoreCard Price Performance

The firm has a fifty day moving average price of $21.95 and a two-hundred day moving average price of $19.04. The stock has a market capitalization of $153.79 million, a P/E ratio of 29.48 and a beta of 0.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.90 and a current ratio of 4.90.

CoreCard (NYSE:CCRD) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.17. The firm had revenue of $14.82 million for the quarter, compared to analysts’ expectations of $13.40 million. CoreCard had a return on equity of 10.52% and a net margin of 9.49%. As a group, analysts expect that CoreCard Co. will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On CoreCard

Several hedge funds and other institutional investors have recently modified their holdings of CCRD. Tower Research Capital LLC TRC lifted its holdings in shares of CoreCard by 167.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,413 shares of the company’s stock valued at $32,000 after buying an additional 885 shares during the period. Barclays PLC raised its holdings in CoreCard by 853.3% in the 3rd quarter. Barclays PLC now owns 5,100 shares of the company’s stock worth $74,000 after purchasing an additional 4,565 shares during the period. FMR LLC raised its holdings in CoreCard by 72.0% in the 3rd quarter. FMR LLC now owns 6,511 shares of the company’s stock worth $95,000 after purchasing an additional 2,725 shares during the period. Lazard Asset Management LLC bought a new position in CoreCard in the 4th quarter worth $113,000. Finally, Russell Investments Group Ltd. raised its holdings in CoreCard by 8,257.9% in the 4th quarter. Russell Investments Group Ltd. now owns 7,940 shares of the company’s stock worth $172,000 after purchasing an additional 7,845 shares during the period. 43.90% of the stock is owned by institutional investors.

CoreCard Company Profile

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.