New Vernon Capital Holdings II LLC Buys Shares of 244,351 Diebold Nixdorf, Incorporated $DBD

Key Points

• New Vernon Capital Holdings II LLC purchased 244,351 shares of Diebold Nixdorf, valued at approximately $10.68 million, representing about 0.66% of the company's overall shares.
• Diebold Nixdorf recently reported earnings per share of $0.60, slightly missing the consensus estimate of $0.61, while revenue for the quarter exceeded expectations at $915.20 million.
• The company has approved a $100 million share repurchase program, indicating confidence in its stock valuation and intention to potentially acquire 4.8% of its shares.

New Vernon Capital Holdings II LLC acquired a new stake in Diebold Nixdorf, Incorporated (NYSE:DBD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 244,351 shares of the technology company's stock, valued at approximately $10,683,000. New Vernon Capital Holdings II LLC owned 0.66% of Diebold Nixdorf as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Diebold Nixdorf during the first quarter valued at $10,796,000. Glendon Capital Management LP boosted its position in shares of Diebold Nixdorf by 13.7% in the 1st quarter. Glendon Capital Management LP now owns 1,498,282 shares of the technology company's stock valued at $65,505,000 after purchasing an additional 180,232 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Diebold Nixdorf in the 1st quarter valued at $6,715,000. Skylands Capital LLC boosted its position in shares of Diebold Nixdorf by 23.3% in the 1st quarter. Skylands Capital LLC now owns 550,600 shares of the technology company's stock valued at $24,072,000 after purchasing an additional 103,975 shares during the period. Finally, Irenic Capital Management LP boosted its position in shares of Diebold Nixdorf by 13.8% in the 1st quarter. Irenic Capital Management LP now owns 720,658 shares of the technology company's stock valued at $31,507,000 after purchasing an additional 87,331 shares during the period. Institutional investors and hedge funds own 97.04% of the company's stock.

Wall Street Analyst Weigh In

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

Diebold Nixdorf Stock Down 1.2%

DBD stock traded down $0.74 during mid-day trading on Wednesday, hitting $60.01. The stock had a trading volume of 124,834 shares, compared to its average volume of 173,054. 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, Incorporated has a 1-year low of $34.88 and a 1-year high of $63.46. The company has a fifty day moving average of $59.64 and a 200 day moving average of $50.65. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -176.49 and a beta of 1.68.

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

Diebold Nixdorf announced that its board has initiated a share buyback plan on Wednesday, August 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Diebold Nixdorf Company Profile

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.