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NCR's ATMaaS Solution to Upgrade UHCU ATM Infrastructure
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NCR Corporation recently announced that the United Heritage Credit Union (“UHCU”) has selected its ATM-as-a-Service (ATMaaS) solution to run UHCU’s ATM fleet.
NCR’s ATMaaS solution will help UHCU upgrade its ATM infrastructure and streamline operations. The solution will also aid UHCU in offering interactive teller capabilities. The transition will help the credit union shift the operational management of its ATM operations, including ATM monitoring, hardware maintenance, software, cash management, transaction processing and help desk, to NCR.
NCR’s ATMaaS solution will improve UHCU’s customer experience and reduce the burden of staff in managing ATM operations. Instead, staff will be able to focus on providing better solutions and services in branches and online.
We remain highly positive about NCR's ATM footprint. The company has been one of the world's largest and leading suppliers of multi-vendor ATM hardware and applications for more than 30 consecutive years. We believe that NCR's commitment to protecting the trust and integrity of the ATM channel has been inspiring banks and other financial institutions to choose its services.
In the third quarter of 2022, NCR’s Digital Banking Solution revenues increased 7% year over year to $137 million. Revenues from the Self-Service Banking segment marginally improved to $640 million from $637 million in the year-ago quarter.
Of late, NCR has been focusing more on providing ATM as a service rather than offering hardware. In September 2022, NCR revealed that it is planning to spin off into two new publicly traded standalone companies. One of these will focus on the digital commerce business spearheading the retail, hospitality and digital banking industries. The other will provide solutions related to global ATM as a Service and ATM network businesses.
The separation intends to attract distinct shareholder bases, which are better aligned with each company’s value proposition and financial profile. Both companies will follow different business goals, capital structures and allocation strategies. These will help NCR deliver long-term growth with increased flexibility in separate sets of operations and sustainably create value for stockholders, offering them greater transparency.
Despite supply-chain disruptions and other macroeconomic headwinds, NCR managed to deliver outstanding third-quarter 2022 results, with strong revenue growth and increased profitability. The enterprise technology provider reported revenues of $1.97 billion, witnessing a year-over-year increase of 4%. The upside was driven by strong execution and growth across the company’s business segments except for Other. NCR’s third-quarter non-GAAP earnings rose 16% year over year to 80 cents per share.
However, NCR's near-term prospect looks gloomy as organizations are pushing back their investments in big and expensive technology products due to global economic slowdown concerns. The resurgence of COVID-19 cases in China and the ongoing Russia-Ukraine war are likely to continue disrupting its overall financial performance in the near term.
Moreover, higher-than-expected inflationary pressure has led to a substantial increase in components, freight and fuel expenses, which are anticipated to continue hurting the company’s profitability in the next few quarters. Foreign exchange headwinds remain an added woe.
Zacks Rank & Key Picks
Currently, NCR carries a Zacks Rank #4 (Sell). Shares of NCR have plunged 30.3% over the past year.
The Zacks Consensus Estimate for Paylocity’s second-quarter fiscal 2023 earnings has remained unchanged at 70 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved up 47 cents to $4.05 per share in the past 90 days.
Paylocity's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 51.2%. Shares of PCTY have risen 2% in the trailing 12 months.
The Zacks Consensus Estimate for Zscaler's second-quarter fiscal 2023 earnings has been revised 3 cents upward to 29 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved up by a penny to $1.24 per share in the past 30 days.
ZS’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 27.3%. Shares of the company have declined 49.1% over the past year.
The Zacks Consensus Estimate for Nutanix's second-quarter fiscal 2023 earnings has been revised northward by 2 cents to 11 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved upward by 4 cents to 17 cents per share in the past 60 days.
Nutanix's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 86.1%. Shares of NTNX have risen 5.6% in the trailing 12 months.
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NCR's ATMaaS Solution to Upgrade UHCU ATM Infrastructure
NCR Corporation recently announced that the United Heritage Credit Union (“UHCU”) has selected its ATM-as-a-Service (ATMaaS) solution to run UHCU’s ATM fleet.
NCR’s ATMaaS solution will help UHCU upgrade its ATM infrastructure and streamline operations. The solution will also aid UHCU in offering interactive teller capabilities. The transition will help the credit union shift the operational management of its ATM operations, including ATM monitoring, hardware maintenance, software, cash management, transaction processing and help desk, to NCR.
NCR’s ATMaaS solution will improve UHCU’s customer experience and reduce the burden of staff in managing ATM operations. Instead, staff will be able to focus on providing better solutions and services in branches and online.
We remain highly positive about NCR's ATM footprint. The company has been one of the world's largest and leading suppliers of multi-vendor ATM hardware and applications for more than 30 consecutive years. We believe that NCR's commitment to protecting the trust and integrity of the ATM channel has been inspiring banks and other financial institutions to choose its services.
NCR Corporation Price and Consensus
NCR Corporation price-consensus-chart | NCR Corporation Quote
In the third quarter of 2022, NCR’s Digital Banking Solution revenues increased 7% year over year to $137 million. Revenues from the Self-Service Banking segment marginally improved to $640 million from $637 million in the year-ago quarter.
Of late, NCR has been focusing more on providing ATM as a service rather than offering hardware. In September 2022, NCR revealed that it is planning to spin off into two new publicly traded standalone companies. One of these will focus on the digital commerce business spearheading the retail, hospitality and digital banking industries. The other will provide solutions related to global ATM as a Service and ATM network businesses.
The separation intends to attract distinct shareholder bases, which are better aligned with each company’s value proposition and financial profile. Both companies will follow different business goals, capital structures and allocation strategies. These will help NCR deliver long-term growth with increased flexibility in separate sets of operations and sustainably create value for stockholders, offering them greater transparency.
Despite supply-chain disruptions and other macroeconomic headwinds, NCR managed to deliver outstanding third-quarter 2022 results, with strong revenue growth and increased profitability. The enterprise technology provider reported revenues of $1.97 billion, witnessing a year-over-year increase of 4%. The upside was driven by strong execution and growth across the company’s business segments except for Other. NCR’s third-quarter non-GAAP earnings rose 16% year over year to 80 cents per share.
However, NCR's near-term prospect looks gloomy as organizations are pushing back their investments in big and expensive technology products due to global economic slowdown concerns. The resurgence of COVID-19 cases in China and the ongoing Russia-Ukraine war are likely to continue disrupting its overall financial performance in the near term.
Moreover, higher-than-expected inflationary pressure has led to a substantial increase in components, freight and fuel expenses, which are anticipated to continue hurting the company’s profitability in the next few quarters. Foreign exchange headwinds remain an added woe.
Zacks Rank & Key Picks
Currently, NCR carries a Zacks Rank #4 (Sell). Shares of NCR have plunged 30.3% over the past year.
Some better-ranked stocks from the broader technology sector are Paylocity Holding (PCTY - Free Report) , Zscaler (ZS - Free Report) and Nutanix (NTNX - Free Report) . Paylocity sports a Zacks Rank #1 (Strong Buy) at present, while Zscaler and Nutanix each carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Paylocity’s second-quarter fiscal 2023 earnings has remained unchanged at 70 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved up 47 cents to $4.05 per share in the past 90 days.
Paylocity's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 51.2%. Shares of PCTY have risen 2% in the trailing 12 months.
The Zacks Consensus Estimate for Zscaler's second-quarter fiscal 2023 earnings has been revised 3 cents upward to 29 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved up by a penny to $1.24 per share in the past 30 days.
ZS’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 27.3%. Shares of the company have declined 49.1% over the past year.
The Zacks Consensus Estimate for Nutanix's second-quarter fiscal 2023 earnings has been revised northward by 2 cents to 11 cents per share over the past 60 days. For fiscal 2023, earnings estimates have moved upward by 4 cents to 17 cents per share in the past 60 days.
Nutanix's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 86.1%. Shares of NTNX have risen 5.6% in the trailing 12 months.