Zacks Investment Research upgraded shares of TransAct Technologies Incorporated (NASDAQ:TACT) from a hold rating to a buy rating in a report issued on Saturday. The firm currently has $13.00 price target on the technology company’s stock.
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. “
Several other equities research analysts have also commented on TACT. B. Riley restated a buy rating and set a $11.00 price target on shares of TransAct Technologies in a research note on Wednesday, August 2nd. ValuEngine upgraded TransAct Technologies from a hold rating to a buy rating in a research note on Friday, August 4th.
Shares of TransAct Technologies (TACT) traded up $1.10 during trading hours on Friday, reaching $12.80. The company’s stock had a trading volume of 108,641 shares, compared to its average volume of 32,163. The firm has a market capitalization of $94.26, a price-to-earnings ratio of 19.10 and a beta of 0.75. TransAct Technologies has a 12 month low of $5.89 and a 12 month high of $12.95.
TransAct Technologies (NASDAQ:TACT) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.12. The company had revenue of $15.52 million during the quarter, compared to analyst estimates of $14.58 million. TransAct Technologies had a return on equity of 20.31% and a net margin of 8.78%. research analysts forecast that TransAct Technologies will post 0.62 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, November 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, November 17th. TransAct Technologies’s payout ratio is 53.73%.
In related news, CFO Steven A. Demartino sold 2,583 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $9.75, for a total value of $25,184.25. Following the completion of the transaction, the chief financial officer now owns 47,419 shares of the company’s stock, valued at $462,335.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven A. Demartino sold 3,293 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $9.70, for a total value of $31,942.10. Following the completion of the transaction, the chief financial officer now directly owns 47,419 shares of the company’s stock, valued at approximately $459,964.30. The disclosure for this sale can be found here. Insiders sold 37,360 shares of company stock valued at $352,752 in the last ninety days. Company insiders own 11.57% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. B. Riley Financial Inc. lifted its holdings in TransAct Technologies by 23.2% during the 2nd quarter. B. Riley Financial Inc. now owns 73,254 shares of the technology company’s stock worth $622,000 after buying an additional 13,817 shares during the last quarter. Northern Trust Corp lifted its holdings in TransAct Technologies by 7.0% during the 2nd quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock worth $223,000 after buying an additional 1,730 shares during the last quarter. LSV Asset Management lifted its holdings in TransAct Technologies by 55.5% during the 2nd quarter. LSV Asset Management now owns 50,600 shares of the technology company’s stock worth $430,000 after buying an additional 18,070 shares during the last quarter. Algert Global LLC lifted its holdings in TransAct Technologies by 10.0% during the 2nd quarter. Algert Global LLC now owns 41,354 shares of the technology company’s stock worth $349,000 after buying an additional 3,765 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new position in TransAct Technologies during the 2nd quarter worth approximately $782,000. 37.24% of the stock is currently owned by institutional investors.
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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