Zacks Investment Research cut shares of Datawatch Corporation (NASDAQ:DWCH) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Datawatch Corporation is a provider of Enterprise Reporting, Report Mining and Service Center software products that help organizations increase productivity, reduce costs and gain competitive advantages. Datawatch products are used in more than 20,000 companies, institutions and government agencies worldwide. Datawatch is best known for its popular report mining application called Monarch. Monarch lets users extract and manipulate data from ASCII report files produced on any mainframe, midrange, client/server or PC system. “
Several other analysts have also recently commented on the company. Canaccord Genuity raised their target price on Datawatch Corporation from $8.50 to $10.00 and gave the stock a hold rating in a research report on Thursday, July 20th. ValuEngine raised Datawatch Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd.
Datawatch Corporation (NASDAQ DWCH) opened at 10.90 on Tuesday. The company has a 50-day moving average price of $10.24 and a 200 day moving average price of $8.94. Datawatch Corporation has a 1-year low of $5.25 and a 1-year high of $11.98. The firm’s market capitalization is $132.97 million.
Datawatch Corporation (NASDAQ:DWCH) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.08. The business had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.83 million. Datawatch Corporation had a negative return on equity of 10.87% and a negative net margin of 14.74%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities analysts anticipate that Datawatch Corporation will post ($0.10) earnings per share for the current year.
In related news, Director Richard De J. Osborne sold 34,000 shares of Datawatch Corporation stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $11.15, for a total transaction of $379,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Anthony Morrison sold 14,202 shares of Datawatch Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $9.61, for a total value of $136,481.22. Following the sale, the chief executive officer now directly owns 170,001 shares of the company’s stock, valued at approximately $1,633,709.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,278 shares of company stock valued at $1,177,891. Insiders own 17.69% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC acquired a new stake in Datawatch Corporation during the second quarter valued at $103,000. KCG Holdings Inc. boosted its position in Datawatch Corporation by 5.7% during the first quarter. KCG Holdings Inc. now owns 17,390 shares of the technology company’s stock valued at $146,000 after purchasing an additional 939 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Datawatch Corporation by 10.4% during the first quarter. Bank of New York Mellon Corp now owns 17,546 shares of the technology company’s stock valued at $148,000 after purchasing an additional 1,649 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Datawatch Corporation by 25.8% during the first quarter. Goldman Sachs Group Inc. now owns 21,276 shares of the technology company’s stock valued at $179,000 after purchasing an additional 4,357 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Datawatch Corporation by 4.9% during the second quarter. Northern Trust Corp now owns 24,514 shares of the technology company’s stock valued at $228,000 after purchasing an additional 1,148 shares during the last quarter. 40.69% of the stock is owned by hedge funds and other institutional investors.
About Datawatch Corporation
Datawatch Corporation is engaged in the design, development, marketing, distribution and support of business computer software primarily for the self-service data preparation and visual data discovery markets. The Company also provides services, including implementation and support of its software products, as well as training on their use and administration.
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