Cadence Capital Management LLC reduced its position in shares of NCR Co. (NYSE:NCR) by 38.5% during the first quarter, Holdings Channel reports. The institutional investor owned 34,747 shares of the information technology services provider’s stock after selling 21,786 shares during the period. Cadence Capital Management LLC’s holdings in NCR were worth $1,587,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NCR. Cornerstone Capital Management Holdings LLC. boosted its position in NCR by 5.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 555,225 shares of the information technology services provider’s stock worth $25,361,000 after buying an additional 29,335 shares in the last quarter. Neuberger Berman Group LLC boosted its position in NCR by 9.1% in the first quarter. Neuberger Berman Group LLC now owns 2,698,990 shares of the information technology services provider’s stock worth $123,290,000 after buying an additional 224,002 shares in the last quarter. American International Group Inc. boosted its position in NCR by 4.1% in the first quarter. American International Group Inc. now owns 248,602 shares of the information technology services provider’s stock worth $11,356,000 after buying an additional 9,860 shares in the last quarter. Arizona State Retirement System boosted its position in NCR by 8.1% in the first quarter. Arizona State Retirement System now owns 51,800 shares of the information technology services provider’s stock worth $2,366,000 after buying an additional 3,900 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in NCR during the first quarter worth about $871,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Institutional Ownership by Quarter for NCR (NYSE:NCR)

Shares of NCR Co. (NCR) traded down 1.59% during mid-day trading on Tuesday, hitting $39.72. The stock had a trading volume of 747,509 shares. NCR Co. has a 12 month low of $25.20 and a 12 month high of $49.90. The stock has a market cap of $4.82 billion, a P/E ratio of 27.80 and a beta of 1.82. The firm has a 50 day moving average price of $42.05 and a 200-day moving average price of $42.57.

NCR (NYSE:NCR) last announced its quarterly earnings data on Thursday, April 20th. The information technology services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.46 by $0.10. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. NCR had a return on equity of 76.86% and a net margin of 4.13%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. On average, equities research analysts forecast that NCR Co. will post $3.37 EPS for the current year.

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A number of analysts have recently commented on the company. Zacks Investment Research lowered NCR from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Royal Bank of Canada reissued a “buy” rating and set a $51.00 price target on shares of NCR in a research note on Friday, May 12th. Oppenheimer Holdings Inc. raised NCR from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research note on Thursday, March 16th. Benchmark Co. assumed coverage on NCR in a research note on Thursday, April 13th. They set a “buy” rating and a $55.00 price target on the stock. Finally, CIBC raised NCR from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 16th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. NCR currently has a consensus rating of “Buy” and an average price target of $46.29.

In related news, major shareholder Holdings L.P. Blackstone III sold 3,002,753 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $48.47, for a total transaction of $145,543,437.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J. Robert Ciminera sold 3,086 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $42.48, for a total value of $131,093.28. Following the transaction, the executive vice president now owns 9,888 shares in the company, valued at $420,042.24. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

NCR Company Profile

NCR Corporation is a provider of Omni-channel technology solutions that enable businesses connect, interact and transact with their customers. The Company operates through three segments: Software, Services and Hardware. It sells a portfolio of hardware, software and services that combine to provide businesses with solutions.

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