Synovus Financial Corp Reduces Stake in NCR Co. (NYSE:NCR)

Synovus Financial Corp decreased its holdings in shares of NCR Co. (NYSE:NCRGet Rating) by 24.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,395 shares of the information technology services provider’s stock after selling 3,694 shares during the quarter. Synovus Financial Corp’s holdings in NCR were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in NCR by 19.7% during the second quarter. Principal Financial Group Inc. now owns 537,106 shares of the information technology services provider’s stock worth $16,709,000 after purchasing an additional 88,441 shares in the last quarter. SCW Capital Management LP raised its stake in NCR by 43.5% during the 2nd quarter. SCW Capital Management LP now owns 406,784 shares of the information technology services provider’s stock worth $12,655,000 after acquiring an additional 123,375 shares in the last quarter. Inspire Investing LLC raised its stake in NCR by 17.2% during the 2nd quarter. Inspire Investing LLC now owns 6,859 shares of the information technology services provider’s stock worth $213,000 after acquiring an additional 1,008 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in NCR in the second quarter valued at $37,000. Finally, Shell Asset Management Co. boosted its stake in NCR by 15.0% in the second quarter. Shell Asset Management Co. now owns 19,652 shares of the information technology services provider’s stock valued at $611,000 after acquiring an additional 2,570 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens cut their target price on NCR from $38.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 21st. StockNews.com began coverage on NCR in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson decreased their price objective on NCR from $45.00 to $35.00 in a report on Thursday, October 27th. Finally, Morgan Stanley cut their target price on shares of NCR from $27.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th.

NCR Stock Performance

NYSE NCR opened at $21.94 on Monday. The firm has a market cap of $3.01 billion, a P/E ratio of 25.22 and a beta of 1.67. NCR Co. has a 52-week low of $18.06 and a 52-week high of $45.92. The business’s 50-day moving average price is $21.40 and its 200 day moving average price is $28.41. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 3.88.

NCR (NYSE:NCRGet Rating) last announced its earnings results on Tuesday, October 25th. The information technology services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. NCR had a return on equity of 27.28% and a net margin of 1.78%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the business posted $0.69 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that NCR Co. will post 2.63 earnings per share for the current year.

Insider Buying and Selling at NCR

In other news, Director Joseph E. Reece bought 5,000 shares of NCR stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of $20.82 per share, for a total transaction of $104,100.00. Following the purchase, the director now owns 23,018 shares of the company’s stock, valued at $479,234.76. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NCR news, EVP Adrian Button sold 13,000 shares of NCR stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $20.38, for a total value of $264,940.00. Following the sale, the executive vice president now owns 44,466 shares of the company’s stock, valued at approximately $906,217.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph E. Reece bought 5,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were acquired at an average cost of $20.82 per share, with a total value of $104,100.00. Following the completion of the purchase, the director now owns 23,018 shares in the company, valued at approximately $479,234.76. The disclosure for this purchase can be found here. 7.10% of the stock is currently owned by corporate insiders.

NCR Company Profile

(Get Rating)

NCR Corporation provides various software and services worldwide. It operates through Banking, Retail, Hospitality, and Telecommunications and Technology segments. The company offers managed services and ATM-as-a-Service that allow banks to run their end-to-end ATM channels; software, services, and hardware; and digital banking solutions for financial institution's consumer and business customers.

See Also

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Institutional Ownership by Quarter for NCR (NYSE:NCR)

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