Bank of America Corp DE Raises Position in NCR Atleos Corporation $NATL

Key Points

• Bank of America nearly tripled its NCR Atleos stake in the first quarter, purchasing 1.24 million additional shares to own 1.86 million shares, or about 2.52% of the company valued at $81.1 million.
• Institutional investors collectively own 88.66% of NCR Atleos, with several other funds also increasing their positions.
• Analysts maintain a cautious outlook: the stock has a consensus “Hold” rating and an average price target of $50.27, compared with its recent price of $46.61.

Bank of America Corp DE increased its stake in NCR Atleos Corporation (NYSE:NATL - Free Report) by 198.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,861,433 shares of the company's stock after buying an additional 1,237,227 shares during the quarter. Bank of America Corp DE owned about 2.52% of NCR Atleos worth $81,121,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC lifted its position in NCR Atleos by 66.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 690 shares of the company's stock worth $26,000 after acquiring an additional 276 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of NCR Atleos by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,867 shares of the company's stock worth $643,000 after purchasing an additional 300 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of NCR Atleos by 0.3% in the second quarter. Federated Hermes Inc. now owns 115,565 shares of the company's stock valued at $3,297,000 after purchasing an additional 397 shares during the period. ProShare Advisors LLC boosted its stake in shares of NCR Atleos by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 14,255 shares of the company's stock valued at $543,000 after purchasing an additional 446 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in NCR Atleos by 245.7% during the 1st quarter. Sound Income Strategies LLC now owns 643 shares of the company's stock valued at $28,000 after purchasing an additional 457 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of NCR Atleos in a research note on Wednesday. Zacks Research cut shares of NCR Atleos from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Finally, DA Davidson restated a "neutral" rating and set a $50.00 target price on shares of NCR Atleos in a research note on Monday, May 11th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $50.27.

NCR Atleos Stock Up 0.1%

Shares of NYSE:NATL opened at $46.61 on Monday. The firm has a market cap of $3.44 billion, a PE ratio of 18.07 and a beta of 0.57. The company has a fifty day simple moving average of $45.24 and a 200 day simple moving average of $43.81. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 5.84. NCR Atleos Corporation has a 12-month low of $33.31 and a 12-month high of $48.50.

NCR Atleos Profile

NCR Atleos Corporation operates as a financial technology company in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Self-Service Banking, Network, and Telecommunications & Technology (T&T). The Self-Service Banking segment offers solutions, including a line of automated teller machine (ATM) and interactive teller machine (ITM) hardware and software, as well as related installation, maintenance, and managed and professional services; and solutions to manage and run the ATM channel end-to-end for financial institutions comprising back office, cash management, software management and ATM deployment, and others.

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