Federated Hermes Inc. Invests $3.74 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

Federated Hermes Inc. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 154,158 shares of the company's stock, valued at approximately $3,738,000. Federated Hermes Inc. owned about 0.16% of Alkami Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of ALKT. Beaird Harris Wealth Management LLC raised its stake in Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company's stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Swiss National Bank raised its stake in Alkami Technology by 1.1% in the 3rd quarter. Swiss National Bank now owns 91,900 shares of the company's stock worth $1,674,000 after purchasing an additional 1,000 shares in the last quarter. Penbrook Management LLC raised its stake in Alkami Technology by 2.3% in the 4th quarter. Penbrook Management LLC now owns 61,950 shares of the company's stock worth $1,502,000 after purchasing an additional 1,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Alkami Technology by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company's stock worth $322,000 after purchasing an additional 1,494 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Alkami Technology by 26.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company's stock worth $167,000 after purchasing an additional 1,915 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Trading Up 2.8 %

Shares of NASDAQ ALKT traded up $0.66 during midday trading on Friday, reaching $24.52. The stock had a trading volume of 316,324 shares, compared to its average volume of 216,070. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -37.15 and a beta of 0.40. Alkami Technology, Inc. has a twelve month low of $10.93 and a twelve month high of $26.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77. The company's 50 day moving average price is $24.17 and its 200 day moving average price is $23.17.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.11). The firm had revenue of $71.37 million for the quarter, compared to the consensus estimate of $71.12 million. Alkami Technology had a negative net margin of 23.76% and a negative return on equity of 17.00%. As a group, sell-side analysts expect that Alkami Technology, Inc. will post -0.41 EPS for the current year.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 50,089 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the transaction, the chief financial officer now owns 508,501 shares in the company, valued at approximately $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO W Bryan Hill sold 50,089 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the transaction, the chief financial officer now owns 508,501 shares in the company, valued at approximately $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Bohanon sold 29,052 shares of the business's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the transaction, the insider now owns 434,823 shares in the company, valued at approximately $10,009,625.46. The disclosure for this sale can be found here. Insiders have sold 112,734 shares of company stock worth $2,658,864 in the last quarter. Company insiders own 38.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALKT. The Goldman Sachs Group cut shares of Alkami Technology from a "buy" rating to a "neutral" rating and boosted their target price for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd. William Blair reaffirmed an "outperform" rating on shares of Alkami Technology in a report on Thursday, February 29th. TheStreet raised shares of Alkami Technology from a "d" rating to a "c-" rating in a report on Thursday, February 29th. Barclays boosted their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an "equal weight" rating in a report on Thursday, February 29th. Finally, KeyCorp boosted their target price on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $26.10.

Alkami Technology Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.