NCR Voyix Corporation (VYX): A Look at Insider Activity and Growth Potential
Tracking insider buying can offer valuable insights into a company’s future. Corporate insiders, with their intimate knowledge of their companies’ operations and prospects, often signal confidence when they purchase shares. This article examines NCR Voyix Corporation (NYSE:VYX) in the context of technology stocks exhibiting insider buying during 2024.
Insider purchases often indicate a belief in a company’s sustained growth, making these transactions a compelling indicator of potential upside. Moreover, insiders frequently have access to confidential information regarding client and supplier insights, which grants them greater accuracy in predicting demand and other industry trends.
Empirical studies suggest that insider buying can be a reliable predictor of stock price movements. Research indicates that stocks with significant insider purchases often outperform the broader market. However, individual transactions may not fully reflect the general direction because insiders may be buying the company’s stock to comply with the company’s internal guidelines on insider ownership.
What investors should be looking for is clusters of insiders buying significant amounts of stock at key moments. Insiders often actively purchase their company’s stock when prices decline sharply due to negative market sentiment, such as missing quarterly earnings. They have a better understanding of long-term risks.
With the US stock market near peak valuations, insider buying has been muted, especially in expensive sectors like technology. Finding tech stocks where insiders are buying could provide unique insights.
Methodology
This analysis used Insider Monkey’s insider trading stock screener to identify technology stocks where at least two insiders purchased shares worth at least $100,000 during 2024. Multiple insiders buying significant stock amounts increases the likelihood of strong company confidence. Also, it includes the number of hedge funds that own the stock and the top 10 names with the largest hedge fund ownership.
Why we are interested in the stocks that hedge funds pile into is that our research has shown that we can outperform the market by imitating top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points.
NCR Voyix Corporation (NYSE:VYX)
- Number of Hedge Fund Holders: 32
NCR Voyix Corporation (NYSE:VYX) ranks sixth on the list of tech stocks with insider buying during 2024. VYX is a leading provider of digital commerce solutions focused on retail, hospitality, and financial technology. The company offers cloud-based software, self-service kiosks, and payments solutions, aiming to enhance customer experience and streamline operations. With a strong innovation focus, VYX facilitates seamless omnichannel transactions across physical and digital touchpoints.
During calendar 2024, the share price of NCR Voyix Corporation (NYSE:VYX) remained relatively stable. Contributing factors include declines in revenues from hardware sales, and the sale of the Digital Banking business. Despite these challenges, the company made progress with about 70,000 sites implemented on its cloud-native commerce platform, up 25% year-over-year. Looking ahead, management is executing five critical revenue growth initiatives, including restructured sales teams, refined solution investments, accelerated contract renewals, and a stronger senior organization to drive long-term growth in 2025 and beyond.
The optimism for the future is clearly confirmed by at least 2 insiders buying a significant amount of stock in the last year.
Overall VYX ranks 6th among the technology stocks with insider buying in 2024.
