Rice Hall James & Associates LLC Invests $2.21 Million in Alkami Technology, Inc. $ALKT

Rice Hall James & Associates LLC purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 2nd quarter, HoldingsChannel reports. The fund purchased 121,675 shares of the company’s stock, valued at approximately $2,205,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALKT. EverSource Wealth Advisors LLC increased its position in Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after buying an additional 916 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after acquiring an additional 692 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Alkami Technology during the fourth quarter valued at about $37,000. Summit Securities Group LLC raised its position in shares of Alkami Technology by 84.2% in the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after purchasing an additional 842 shares during the last quarter. Finally, CWM LLC raised its position in shares of Alkami Technology by 97.6% in the 4th quarter. CWM LLC now owns 1,942 shares of the company’s stock valued at $45,000 after purchasing an additional 959 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Down 0.3%

NASDAQ:ALKT opened at $20.14 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. The company’s fifty day moving average price is $17.63 and its 200-day moving average price is $17.16. Alkami Technology, Inc. has a 1-year low of $13.98 and a 1-year high of $26.89. The firm has a market capitalization of $2.15 billion, a P/E ratio of -47.95 and a beta of 0.58.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on ALKT shares. JPMorgan Chase & Co. decreased their price target on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Citizens Jmp cut 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, Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.20.

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.