Northern Trust Corp Reduces Stock Position in Diebold Nixdorf, Incorporated $DBD

Key Points

• Northern Trust Corp reduced its holdings in Diebold Nixdorf by 3.1%, now owning 306,092 shares worth approximately $13.4 million.
• Analysts have increased their price targets for Diebold Nixdorf, with Wedbush raising it to $70.00 and DA Davidson setting a target of $80.00, indicating a consensus "Buy" rating for the stock.
• Diebold Nixdorf's Board of Directors authorized a $100 million share repurchase program, signaling confidence in the company's stock value.

Northern Trust Corp lessened its position in shares of Diebold Nixdorf, Incorporated (NYSE:DBD - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,092 shares of the technology company's stock after selling 9,933 shares during the quarter. Northern Trust Corp owned about 0.81% of Diebold Nixdorf worth $13,382,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DBD. Nuveen LLC purchased a new position in Diebold Nixdorf during the 1st quarter valued at approximately $10,796,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Diebold Nixdorf during the 1st quarter worth approximately $6,715,000. Dimensional Fund Advisors LP lifted its stake in shares of Diebold Nixdorf by 32.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 629,780 shares of the technology company's stock worth $27,105,000 after acquiring an additional 153,511 shares during the last quarter. Skylands Capital LLC lifted its stake in shares of Diebold Nixdorf by 23.3% during the 1st quarter. Skylands Capital LLC now owns 550,600 shares of the technology company's stock worth $24,072,000 after acquiring an additional 103,975 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Diebold Nixdorf by 104.8% during the 4th quarter. Millennium Management LLC now owns 140,091 shares of the technology company's stock worth $6,030,000 after acquiring an additional 71,673 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company's stock.

Diebold Nixdorf Stock Down 1.2%

Shares of NYSE:DBD traded down $0.71 on Tuesday, reaching $60.18. The company had a trading volume of 20,753 shares, compared to its average volume of 172,361. Diebold Nixdorf, Incorporated has a 52-week low of $34.88 and a 52-week high of $63.46. The firm's 50 day simple moving average is $59.57 and its 200-day simple moving average is $50.58. The firm has a market capitalization of $2.20 billion, a PE ratio of -177.04 and a beta of 1.68. The company has a current ratio of 1.36, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84.

Diebold Nixdorf (NYSE:DBD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.01). Diebold Nixdorf had a negative net margin of 0.35% and a positive return on equity of 7.92%. The company had revenue of $915.20 million during the quarter, compared to analysts' expectations of $879.57 million. As a group, analysts expect that Diebold Nixdorf, Incorporated will post 4.59 earnings per share for the current fiscal year.

Diebold Nixdorf declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 6th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DBD. DA Davidson reissued a "buy" rating and set a $80.00 price target on shares of Diebold Nixdorf in a research note on Tuesday, August 19th. Wall Street Zen raised Diebold Nixdorf from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Wedbush lifted their target price on Diebold Nixdorf from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $75.00.

About Diebold Nixdorf

Diebold Nixdorf, Incorporated engages in the automating, digitizing, and transforming the way people bank and shop worldwide. It operates through two segments, Banking and Retail. The company offers cash recyclers and dispensers, intelligent deposit terminals, teller automation tools, and kiosk technologies, as well as physical security solutions; and front-end applications for consumer connection points and back-end platforms that manage channel transactions, operations and integration, and facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management, and analytics.