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

Praesidium Investment Management Company LLC acquired a new position in Alkami Technology, Inc. (NASDAQ:ALKT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 704,497 shares of the company’s stock, valued at approximately $12,765,486,000. Alkami Technology comprises approximately 6.0% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also modified their holdings of the company. Jupiter Topco LLC purchased a new position in shares of Alkami Technology in the second quarter valued at $536,000. Galaxy Digital Capital Management GP LLC purchased a new stake in Alkami Technology during the second quarter valued at $1,750,000. Legal & General Group Plc purchased a new stake in Alkami Technology during the second quarter valued at $967,000. The Manufacturers Life Insurance Company bought a new position in Alkami Technology during the second quarter valued at $46,927,000. Finally, Cibc World Market Inc. bought a new position in Alkami Technology during the second quarter valued at $2,396,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $19.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Needham & Company LLC boosted their target price on Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citizens Jmp decreased their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.80.

Alkami Technology Stock Up 1.1%

Shares of ALKT opened at $20.35 on Thursday. The firm has a fifty day moving average price of $18.23 and a 200-day moving average price of $17.21. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $2.18 billion, a P/E ratio of -48.45 and a beta of 0.58. Alkami Technology, Inc. has a 12-month low of $13.98 and a 12-month high of $26.89.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.23). Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The company had revenue of $129.84 million during the quarter, compared to analysts’ expectations of $128.70 million. During the same period in the prior year, the business earned ($0.13) EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts expect that Alkami Technology, Inc. will post 0.14 earnings per share for the current year.

About Alkami Technology

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.