Is NCR Corporation (NCR) a Good Long-Term Bet?

Aristotle Capital Boston, LLC, an investment advisor, released its “Small/Mid Cap Equity” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.67% net of fees compared to -2.82% return for the Russell 2500 Index. Holdings in Financials, Communication Services, and Materials contributed positively to the fund’s performance, while Health Care, Information Technology, and Energy sectors were the major detractors. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Capital highlighted stocks like NCR Corporation (NYSE:NCR) in the Q3 2022 investor letter. Headquartered in Atlanta, Georgia, NCR Corporation (NYSE:NCR) is a software and services provider. On November 23, 2022, NCR Corporation (NYSE:NCR) stock closed at $23.08 per share. One-month return of NCR Corporation (NYSE:NCR) was 12.20% and its shares lost 46.30% of their value over the last 52 weeks. NCR Corporation (NYSE:NCR) has a market capitalization of $3.171 billion.

Aristotle Capital made the following comment about NCR Corporation (NYSE:NCR) in its Q3 2022 investor letter:

NCR Corporation (NYSE:NCR), an enterprise technology company that provides software and hardware to the financial, retail and restaurant/hospitality industries, declined following an announcement that the company’s board had approved to separate the company into two publicly traded entities in an attempt to unlock shareholder value as opposed to an outright sale which the market preferred. We maintain a position, as we believe the two separate enterprises should drive greater focus and expertise on their respective market opportunities. Furthermore, we believe demand for point-of-service terminals, self-checkout, digital payments and automated billing and accounting services serve as tailwinds for the company moving forward.”

software Photo by Danial Igdery on Unsplash

NCR Corporation (NYSE:NCR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held NCR Corporation (NYSE:NCR) at the end of the third quarter, which was 47 in the previous quarter.

We discussed NCR Corporation (NYSE:NCR) in another article and shared stocks that billionaire Ray Dalio dumped from his portfolio. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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