Praesidium Investment Management Company LLC Invests $12.77 Billion in Alkami Technology, Inc. $ALKT

Praesidium Investment Management Company LLC bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 holdings, making the stock its 8th largest holding. Praesidium Investment Management Company LLC owned approximately 0.66% of Alkami Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. North Reef Capital Management LP lifted its stake in Alkami Technology by 264.3% during the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock valued at $119,876,000 after acquiring an additional 5,550,000 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Alkami Technology during the second quarter valued at approximately $46,927,000. Irenic Capital Management LP purchased a new stake in Alkami Technology during the fourth quarter valued at approximately $48,596,000. Cadian Capital Management LP bought a new position in Alkami Technology in the fourth quarter worth approximately $26,969,000. Finally, Westfield Capital Management Co. LP raised its position in Alkami Technology by 33.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock worth $95,010,000 after acquiring an additional 1,023,297 shares during the period. 54.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALKT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $19.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Citizens Jmp lowered their target price 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, Needham & Company LLC boosted their price target on Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.80.

Alkami Technology Trading Up 1.1%

Shares of ALKT opened at $20.35 on Thursday. 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, Inc. has a 1 year low of $13.98 and a 1 year high of $26.89. The company has a 50 day simple moving average of $18.23 and a two-hundred day simple moving average of $17.21. The firm has a market cap of $2.18 billion, a P/E ratio of -48.45 and a beta of 0.58.

Alkami Technology (NASDAQ:ALKT) last released its 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 last year, the firm posted ($0.13) EPS. Alkami Technology’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Alkami Technology, Inc. will post 0.14 earnings per share for the current fiscal year.

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.