GW&K Investment Management LLC Increases Stock Holdings in Alkami Technology, Inc. $ALKT

Key Points

• GW&K Investment Management increased its Alkami Technology stake by 27.7% in the fourth quarter, ending with 1,168,864 shares worth about $27.0 million.
• Institutional interest remains notable, with hedge funds and other investors owning 54.97% of the stock; insiders also bought heavily, including a director purchase of 844,772 shares and 4.0 million shares bought by insiders in the last quarter.
• Analyst sentiment is mixed to cautious: the stock has an average Hold rating and a consensus price target of $22.80, while the shares recently traded around $15 after Alkami reported a quarterly EPS miss despite revenue growth of 28.9% year over year.

GW&K Investment Management LLC boosted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 27.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,168,864 shares of the company's stock after acquiring an additional 253,705 shares during the quarter. GW&K Investment Management LLC owned 1.11% of Alkami Technology worth $26,965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock worth $35,000 after acquiring an additional 916 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Alkami Technology during the fourth quarter worth $37,000. AlphaQuest LLC increased its position in shares of Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock worth $38,000 after acquiring an additional 544 shares during the period. CWM LLC increased its position in shares of Alkami Technology by 97.6% during the fourth quarter. CWM LLC now owns 1,942 shares of the company's stock worth $45,000 after acquiring an additional 959 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock worth $64,000 after acquiring an additional 594 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 844,772 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $16.63 per share, for a total transaction of $14,048,558.36. Following the acquisition, the director owned 17,445,994 shares in the company, valued at $290,126,880.22. The trade was a 5.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 4,041,543 shares of company stock valued at $67,594,674. Corporate insiders own 17.10% of the company's stock.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Needham & Company LLC cut their price objective on Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. cut their price objective on Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Citizens Jmp cut their price objective on Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 30th. Finally, Barclays decreased their price target on shares of Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating for the company in a research note on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has an average rating of "Hold" and a consensus price target of $22.80.

Alkami Technology Stock Down 2.0%

Shares of Alkami Technology stock opened at $15.01 on Thursday. Alkami Technology, Inc. has a 52-week low of $14.11 and a 52-week high of $31.08. The company has a 50 day moving average of $16.71 and a 200 day moving average of $18.61. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1.61 billion, a P/E ratio of -31.94 and a beta of 0.58.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm had revenue of $126.14 million during the quarter, compared to analysts' expectations of $125.22 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm's revenue was up 28.9% compared to the same quarter last year. As a group, research analysts forecast that Alkami Technology, Inc. will post 0.18 EPS for the current fiscal year.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company's platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami's platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.

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