Zacks Investment Research downgraded shares of TransAct Technologies (NASDAQ:TACT) from a buy rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “
A number of other brokerages have also issued reports on TACT. B. Riley restated a buy rating and set a $17.00 target price (up previously from $13.00) on shares of TransAct Technologies in a research report on Friday, January 26th. ValuEngine upgraded shares of TransAct Technologies from a hold rating to a buy rating in a research report on Sunday, December 31st.
TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Monday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). TransAct Technologies had a return on equity of 17.83% and a net margin of 5.70%. The firm had revenue of $13.19 million for the quarter, compared to analyst estimates of $14.84 million. research analysts forecast that TransAct Technologies will post 0.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Tuesday, February 20th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.81%. TransAct Technologies’s dividend payout ratio (DPR) is presently 83.72%.
TransAct Technologies declared that its Board of Directors has authorized a share buyback plan on Monday, March 5th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other TransAct Technologies news, Director Thomas R. Schwarz sold 12,500 shares of TransAct Technologies stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $11.79, for a total value of $147,375.00. Following the transaction, the director now owns 59,859 shares in the company, valued at approximately $705,737.61. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.22% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp boosted its holdings in shares of TransAct Technologies by 7.0% in the 2nd quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock valued at $223,000 after purchasing an additional 1,730 shares during the last quarter. LSV Asset Management boosted its holdings in shares of TransAct Technologies by 8.3% in the 4th quarter. LSV Asset Management now owns 58,600 shares of the technology company’s stock valued at $776,000 after purchasing an additional 4,500 shares during the last quarter. Spark Investment Management LLC boosted its holdings in shares of TransAct Technologies by 32.9% in the 4th quarter. Spark Investment Management LLC now owns 20,600 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,100 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TransAct Technologies by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 243,683 shares of the technology company’s stock valued at $2,376,000 after purchasing an additional 5,607 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of TransAct Technologies by 19.4% in the 4th quarter. Geode Capital Management LLC now owns 40,109 shares of the technology company’s stock valued at $530,000 after purchasing an additional 6,530 shares during the last quarter. Institutional investors own 39.18% of the company’s stock.
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TransAct Technologies Company Profile
TransAct Technologies Incorporated (TransAct) designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. The Company operates through the segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts.
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