CoreCard (NYSE:CCRD) Trading Up 0.3% – Here’s Why

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

Wall Street Analysts Forecast Growth

Separately, B. Riley cut CoreCard from a “buy” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $15.00 in a research report on Thursday, October 3rd.

CoreCard Price Performance

The company has a market cap of $147.34 million, a PE ratio of 38.06 and a beta of 0.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.90 and a current ratio of 4.90. The stock has a 50 day moving average of $14.89 and a 200-day moving average of $13.96.

Hedge Funds Weigh In On CoreCard

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of CoreCard by 853.3% during the 3rd quarter. Barclays PLC now owns 5,100 shares of the company’s stock valued at $74,000 after buying an additional 4,565 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of CoreCard by 46.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,684 shares of the company’s stock valued at $83,000 after buying an additional 1,790 shares during the last quarter. FMR LLC grew its position in shares of CoreCard by 72.0% during the 3rd quarter. FMR LLC now owns 6,511 shares of the company’s stock valued at $95,000 after acquiring an additional 2,725 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CoreCard during the 2nd quarter valued at about $145,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of CoreCard during the 2nd quarter valued at about $160,000. Hedge funds and other institutional investors own 43.90% of the company’s stock.

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.