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NCR Closes LibertyX Acquisition, Bolsters Digital Portfolio

Zacks Equity Research
·4 min read

NCR Corporation NCR recently concluded the previously announced buyout of the Miami-based LibertyX, a leading cryptocurrency solution provider. The company acquired the privately-held business for an undisclosed amount. The deal includes LibertyX’s cryptocurrency remittance business, LibertyPay.

The buyout, announced in August 2021, is likely to expand NCR’s capabilities in offering a complete digital currency solution to its customers. The solutions will aid its clients in conducting cross-border payments and remittances as well as buying and selling cryptocurrency. Also, clients will be able to accept digital currency payments across digital and physical channels.

LibertyX is the first and largest network of bitcoin automated teller machines (“ATMs”), cashiers and kiosks in the United States. Founded in 2013, the company provides software for powering a nationwide network of bitcoin consumers.

Currently, LibertyX has 10,000 ATMs and 20,000 chain stores across 44 states in the United States. With LibertyX, NCR will utilize its Pay360 platform, a solution to power cardless cash transactions, while offering solutions to banks, retailers and restaurants.

Over the past few decades, NCR has been supplementing its business growth via acquisitions which in turn, have helped it in enhancing its capabilities in different areas. In January 2021, the company acquired Freshop, a grocery e-commerce solution provider, to enable faster deployment of buy-online, pickup-in-store capabilities for retailers, including regional and small grocery chains.

In February 2021, NCR acquired Terafina, a leading solution provider for customer account opening and onboarding across digital, branch and call center channels. This expanded the company’s sales and marketing capabilities in its Digital First Banking platform.

In June, it completed the buyout of Cardtronics, which further expanded its payments platform and helped the firm connect to retail and bank customers.

In August 2021, NCR signed a definitive agreement to acquire Foremost Business Systems, a Minneapolis-based point-of-sale and restaurant solutions provider.

NCR Corporation Price and Consensus

NCR Corporation Price and Consensus
NCR Corporation Price and Consensus

NCR Corporation price-consensus-chart | NCR Corporation Quote

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We believe that such buyouts will keep contributing to NCR’s growth. However, competition with bigwigs like Fidelity, Fiserv, HP, Diebold, Nautilus Hyosung, Toshiba Tec and Oracle in the technology industry remains a concern.

Zacks Rank & Stocks to Consider

NCR currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks from the broader computer and technology sector include the largest global Customer Relationship Management vendor Salesforce CRM and Hewlett Packard HPE, both flaunting a Zacks Rank #1 (Strong Buy), and Advanced Micro Devices AMD carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Salesforce’s fourth-quarter fiscal 2022 earnings has been revised downward by 7.6% to 73 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved upward by 0.43% to $4.68 per share in the last 60 days.

Salesforce’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 44.2%. CRM stock has appreciated 6% in the past year.

The Zacks Consensus Estimate for HPE’s first-quarter fiscal 2022 earnings has been revised downward by 6.1% to 46 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 1.5% to $2.03 per share in the past 90 days.

HPE’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14.4%. Shares of HPE have rallied 40.1% in the past year.

The Zacks Consensus Estimate for Advanced Micro Devices’ fourth-quarter 2021 earnings has been revised upward by 7 cents to 75 cents per share over the past 90 days. For 2021, earnings estimates have moved north by a penny to $2.65 per share in the last 60 days.

Advanced Micro Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14%. Shares of AMD have rallied 46.2% in the past year.


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