TD Cowen Forecasts Strong Price Appreciation for Nelnet (NYSE:NNI) Stock

Nelnet (NYSE:NNI) had its price objective upped by investment analysts at TD Cowen from $130.00 to $135.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the credit services provider’s stock. TD Cowen’s price objective suggests a potential upside of 2.36% from the company’s current price.

Several other research firms also recently commented on NNI. Wall Street Zen upgraded shares of Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Nelnet in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Nelnet presently has a consensus rating of “Hold” and an average target price of $135.00.

Nelnet Stock Performance

Shares of NNI traded down $0.80 during midday trading on Monday, reaching $131.89. 34,567 shares of the stock were exchanged, compared to its average volume of 69,864. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.61 and a beta of 0.85. The company has a debt-to-equity ratio of 2.27, a current ratio of 29.42 and a quick ratio of 29.41. Nelnet has a twelve month low of $98.15 and a twelve month high of $136.68. The business’s 50-day moving average price is $128.14 and its 200 day moving average price is $122.20.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $1.43. Nelnet had a return on equity of 10.09% and a net margin of 14.86%.The firm had revenue of $427.76 million for the quarter, compared to the consensus estimate of $372.00 million. On average, sell-side analysts expect that Nelnet will post 4.52 EPS for the current fiscal year.

Insider Transactions at Nelnet

In other Nelnet news, major shareholder Shelby J. Butterfield sold 41,929 shares of Nelnet stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $119.25, for a total value of $5,000,033.25. Following the sale, the insider owned 510 shares of the company’s stock, valued at approximately $60,817.50. The trade was a 98.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Edward Henning sold 3,102 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $128.87, for a total value of $399,754.74. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 50,125 shares of company stock valued at $6,056,252. 50.90% of the stock is owned by insiders.

Institutional Trading of Nelnet

Several hedge funds and other institutional investors have recently made changes to their positions in NNI. XTX Topco Ltd purchased a new stake in Nelnet during the 1st quarter worth about $384,000. Jump Financial LLC acquired a new stake in shares of Nelnet during the 1st quarter worth about $256,000. Deutsche Bank AG boosted its stake in shares of Nelnet by 209.0% during the 1st quarter. Deutsche Bank AG now owns 39,074 shares of the credit services provider’s stock worth $4,334,000 after purchasing an additional 26,429 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Nelnet by 84.7% during the first quarter. Allianz Asset Management GmbH now owns 8,553 shares of the credit services provider’s stock worth $949,000 after buying an additional 3,921 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Nelnet in the first quarter valued at approximately $4,429,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.