Cantaloupe, Inc. (NASDAQ:CTLP) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in Cantaloupe, Inc. (NASDAQ:CTLP) by 58.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,389 shares of the technology company’s stock after selling 120,595 shares during the period. Bank of America Corp DE owned approximately 0.12% of Cantaloupe worth $803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CTLP. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cantaloupe during the 4th quarter worth about $40,000. Parkside Financial Bank & Trust purchased a new position in Cantaloupe during the fourth quarter worth about $47,000. New York State Common Retirement Fund increased its position in shares of Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock valued at $75,000 after acquiring an additional 3,400 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Cantaloupe in the 4th quarter valued at approximately $77,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Cantaloupe in the 4th quarter valued at approximately $91,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Cantaloupe Stock Up 3.5%

Cantaloupe stock opened at $8.89 on Monday. The firm has a market capitalization of $649.49 million, a P/E ratio of 44.45 and a beta of 1.09. The stock’s fifty day simple moving average is $8.04 and its 200-day simple moving average is $8.70. Cantaloupe, Inc. has a twelve month low of $5.82 and a twelve month high of $11.36. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $79.83 million. Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. As a group, equities analysts expect that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Benchmark increased their price objective on shares of Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of Cantaloupe in a research report on Wednesday, May 21st. Finally, Wall Street Zen cut Cantaloupe from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.50.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for self-service commerce market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides G11 cashless and pulse kits that are 4G LTE digital payment devices for payment and consumer engagement applications; G11 chip kit, a digital reader that accepts contact EMV and contactless EMV payment methods; Engage series comprising Engage and Engage Combo, which are digital touchscreen devices that offers networking, security, and interactivity payment methods; and card touchscreen card readers, including P66, P100, P100Pro, and P30.