CoreCard (NYSE:CCRD) Shares Up 0.3% - Here's Why

CoreCard Co. (NYSE:CCRD - Get Free Report)'s share price 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 mid-day trading, an increase of 21% from the average daily volume of 39,693 shares. The stock had previously closed at $18.59.

Analyst Upgrades and Downgrades

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

CoreCard Trading Up 5.7 %

The company has a market capitalization of $155.71 million, a P/E ratio of 38.06 and a beta of 0.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.90 and a quick ratio of 4.90. The business's 50-day moving average price is $14.89 and its two-hundred day moving average price is $13.96.

Institutional Investors Weigh In On CoreCard

A number of hedge funds and other institutional investors have recently made changes to their positions in CCRD. Monarch Capital Management Inc. boosted its position in CoreCard by 1.0% during the 2nd quarter. Monarch Capital Management Inc. now owns 92,750 shares of the company's stock worth $1,353,000 after acquiring an additional 925 shares during the last quarter. American Century Companies Inc. grew its position in CoreCard by 3.1% in the second quarter. American Century Companies Inc. now owns 34,920 shares of the company's stock valued at $509,000 after purchasing an additional 1,061 shares in the last quarter. Victory Capital Management Inc. lifted its position in CoreCard by 46.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,684 shares of the company's stock worth $83,000 after buying an additional 1,790 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of CoreCard by 0.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 307,771 shares of the company's stock worth $4,490,000 after buying an additional 1,890 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of CoreCard by 72.0% in 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 in the last quarter. 43.90% of the stock is currently owned by institutional investors and hedge funds.

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.