Praesidium Investment Management Company LLC Acquires Shares of 704,497 Alkami Technology, Inc. $ALKT

Key Points

• Praesidium Investment Management acquired 704,497 Alkami Technology shares valued at approximately $12.8 million, while institutional investors collectively own 54.97% of the company.
• Alkami reported quarterly revenue of $129.84 million, up 15.8% year over year and slightly above estimates, but its adjusted loss of $0.08 per share missed analyst expectations of $0.15 in earnings.
• Analyst sentiment remains mixed, with three Buy, three Hold, and one Sell rating; the average price target is $23.80 compared with the stock’s recent price of $20.22.

Praesidium Investment Management Company LLC acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 704,497 shares of the company's stock, valued at approximately $12,765,486. Alkami Technology comprises approximately 0.0% of Praesidium Investment Management Company LLC's portfolio, making the stock its 8th biggest holding. Praesidium Investment Management Company LLC owned about 0.66% of Alkami Technology at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ALKT. North Reef Capital Management LP boosted its stake in Alkami Technology by 264.3% during the first quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company's stock worth $119,876,000 after buying an additional 5,550,000 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Alkami Technology during the second quarter valued at $46,927,000. Irenic Capital Management LP acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $48,596,000. Cadian Capital Management LP acquired a new position in Alkami Technology during the fourth quarter worth $26,969,000. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company's stock worth $95,010,000 after purchasing an additional 1,023,297 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Trading Down 0.6%

ALKT traded down $0.13 during trading hours on Friday, reaching $20.22. The company's stock had a trading volume of 787,066 shares, compared to its average volume of 1,782,442. The business's 50-day moving average is $18.34 and its 200-day moving average is $17.23. Alkami Technology, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $26.89. The stock has a market cap of $2.16 billion, a PE ratio of -48.14 and a beta of 0.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.23). The business had revenue of $129.84 million for the quarter, compared to the consensus estimate of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. As a group, equities research analysts predict that Alkami Technology, Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ALKT. Citizens Jmp dropped their price target on shares of 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. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Needham & Company LLC upped their price objective on shares of Alkami Technology from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on Alkami Technology from $19.00 to $24.00 and gave the company an "overweight" rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $23.80.

Alkami Technology 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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