New York State Common Retirement Fund Boosts NCR Atleos Holdings by 844.6%

The New York State Common Retirement Fund significantly increased its investment in NCR Atleos Corporation, raising its holdings by an impressive 844.6% in the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the fund now owns 211,109 shares of NCR Atleos, having acquired an additional 188,760 shares during the period. The total value of this investment reached approximately $8,299,000 at the close of the reporting period.

Several other institutional investors have also adjusted their positions in NCR Atleos. For instance, Federated Hermes Inc. increased its stake by 6.7%, bringing its total to 123,346 shares valued at $4,849,000 after purchasing an additional 7,781 shares. Mitsubishi UFJ Trust & Banking Corp. raised its holdings by 22.8%, now owning 33,588 shares worth $1,320,000. Covestor Ltd experienced a substantial boost in its stake by 2,457.2%, now holding 4,961 shares valued at $195,000.

Universal Beteiligungs und Servicegesellschaft mbH increased its investment by 49.5%, acquiring 52,037 shares worth $2,046,000. Wealth Enhancement Advisory Services LLC also entered the fray, acquiring a new stake valued at $14,188,000. Overall, institutional investors now control approximately 88.66% of NCR Atleos’s stock.

Analysts have mixed views on the stock’s future. Several brokerages have recently updated their ratings. Wedbush maintained an “outperform” rating with a price target of $45.00, while Weiss Ratings issued a “hold (c)” rating. Wall Street Zen downgraded NCR Atleos from a “strong-buy” to a “buy” rating. Currently, one analyst rates the stock as a Buy and three have issued Hold ratings, leading to an average rating of “Hold” with a price target of $41.00, according to MarketBeat.

NCR Atleos’s stock performance has shown resilience. On November 5, 2023, it opened at $38.45. The company’s financial indicators reveal a debt-to-equity ratio of 8.43, a current ratio of 1.02, and a quick ratio of 0.80. Over the past year, shares have fluctuated between a low of $22.30 and a high of $42.23. The fifty-day moving average is reported at $38.27.

In its most recent earnings announcement on November 5, 2023, NCR Atleos reported earnings of $1.09 per share, surpassing analyst expectations of $0.90 by $0.19. The company achieved a net margin of 3.11% and a return on equity of 84.80%. Revenue for the quarter was $1.12 billion, reflecting a 4.0% increase year-over-year compared to the previous year’s earnings of $0.89 per share.

NCR Atleos Corporation operates as a financial technology company with a global presence, serving markets across the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three main segments: Self-Service Banking, Network, and Telecommunications & Technology (T&T). The Self-Service Banking segment provides a range of solutions, including automated teller machine (ATM) and interactive teller machine (ITM) hardware and software, as well as installation, maintenance, and professional services for financial institutions.

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