Sterling Check (NASDAQ:STER) Price Target Cut to $21.00

Sterling Check (NASDAQ:STERGet Rating) had its price objective decreased by equities researchers at The Goldman Sachs Group from $24.00 to $21.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 71.29% from the stock’s current price.

A number of other brokerages have also weighed in on STER. Morgan Stanley lowered their target price on Sterling Check from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 27th. Needham & Company LLC initiated coverage on Sterling Check in a research report on Tuesday, September 20th. They set a “buy” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.83.

Sterling Check Price Performance

Sterling Check stock opened at $12.26 on Tuesday. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -175.12 and a beta of 0.79. Sterling Check has a 52-week low of $12.22 and a 52-week high of $28.76. The stock’s 50 day moving average price is $19.33 and its two-hundred day moving average price is $19.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.99 and a current ratio of 1.99.

Sterling Check (NASDAQ:STERGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Sterling Check had a positive return on equity of 10.37% and a negative net margin of 0.64%. The firm had revenue of $205.59 million for the quarter, compared to analysts’ expectations of $191.64 million. Sterling Check’s revenue was up 29.0% compared to the same quarter last year. On average, equities analysts predict that Sterling Check will post 1.02 earnings per share for the current year.

Insider Activity at Sterling Check

In related news, insider Steven L. Barnett sold 3,465 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $23.03, for a total value of $79,798.95. Following the completion of the sale, the insider now directly owns 138,691 shares of the company’s stock, valued at approximately $3,194,053.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Steven L. Barnett sold 3,332 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $23.00, for a total value of $76,636.00. Following the completion of the sale, the insider now directly owns 148,426 shares of the company’s stock, valued at approximately $3,413,798. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven L. Barnett sold 3,465 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $23.03, for a total value of $79,798.95. Following the completion of the sale, the insider now directly owns 138,691 shares of the company’s stock, valued at $3,194,053.73. The disclosure for this sale can be found here. In the last three months, insiders sold 8,252 shares of company stock valued at $185,533. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Sterling Check by 53.7% in the 1st quarter. Wellington Management Group LLP now owns 5,322,934 shares of the company’s stock valued at $140,685,000 after purchasing an additional 1,860,674 shares during the period. BlackRock Inc. grew its stake in Sterling Check by 29.0% in the 1st quarter. BlackRock Inc. now owns 1,881,118 shares of the company’s stock valued at $49,719,000 after purchasing an additional 422,576 shares during the period. Lazard Asset Management LLC grew its stake in Sterling Check by 29.4% in the 1st quarter. Lazard Asset Management LLC now owns 1,618,657 shares of the company’s stock valued at $42,781,000 after purchasing an additional 367,741 shares during the period. Vanguard Group Inc. grew its stake in Sterling Check by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,285,303 shares of the company’s stock valued at $33,970,000 after purchasing an additional 7,755 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Sterling Check by 8.9% in the 1st quarter. Principal Financial Group Inc. now owns 995,875 shares of the company’s stock valued at $26,321,000 after purchasing an additional 81,775 shares during the period. Institutional investors own 86.39% of the company’s stock.

Sterling Check Company Profile

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Sterling Check Corp. provides technology-enabled background and identity verification services in the United States, Canada, Europe, the Middle East and Africa, and the Asia Pacific. The company offers identity verification services, such as telecom and device verification, identification document verification, facial recognition with biometric matching, social security number verification, and live video chat identification proofing; fingerprinting; background checks, including criminal record checks, sex offender registries, civil court records, motor vehicle and driving license records, executive investigations, credit reports, social media searches, and contingent workforce solutions; liens, judgments, and bankruptcies; and sanctions, risk, and compliance checks.

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