Congress Asset Management Co. Increases Stake in Alkami Technology, Inc. $ALKT

Congress Asset Management Co. increased its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 73.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,898 shares of the company’s stock after buying an additional 133,945 shares during the period. Congress Asset Management Co. owned 0.30% of Alkami Technology worth $7,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ALKT. Praesidium Investment Management Company LLC purchased a new position in shares of Alkami Technology during the 1st quarter worth approximately $40,223,000. Westfield Capital Management Co. LP bought a new stake in shares of Alkami Technology during the second quarter valued at approximately $35,884,000. Champlain Investment Partners LLC grew its stake in Alkami Technology by 64.0% in the first quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company’s stock worth $67,805,000 after purchasing an additional 1,008,025 shares during the period. Ameriprise Financial Inc. raised its holdings in Alkami Technology by 61.6% in the first quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company’s stock worth $51,242,000 after purchasing an additional 743,884 shares in the last quarter. Finally, Bamco Inc. NY raised its holdings in Alkami Technology by 80.6% in the second quarter. Bamco Inc. NY now owns 1,330,484 shares of the company’s stock worth $40,101,000 after purchasing an additional 593,659 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider directly owned 221,751 shares in the company, valued at approximately $4,510,415.34. This trade represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ALKT shares. Barclays dropped their target price on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Needham & Company LLC cut their price objective on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, October 8th. Finally, Citizens Jmp dropped their price target on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and an average price target of $36.00.

Alkami Technology Stock Up 1.2%

NASDAQ:ALKT opened at $22.71 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. The firm has a market cap of $2.38 billion, a P/E ratio of -52.81 and a beta of 0.54. Alkami Technology, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $40.39. The firm has a 50-day simple moving average of $21.59 and a two-hundred day simple moving average of $24.54.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Thursday, October 30th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.29). Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The firm had revenue of $112.95 million during the quarter, compared to the consensus estimate of $113.48 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The company’s quarterly revenue was up 31.5% on a year-over-year basis. Analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Alkami Technology Company 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.