Crossmark Global Holdings Inc. purchased a new stake in Stamps.com Inc. (NASDAQ:STMP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,186 shares of the software maker’s stock, valued at approximately $848,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its position in Stamps.com by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 666 shares of the software maker’s stock valued at $103,000 after buying an additional 266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Stamps.com by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 883 shares of the software maker’s stock valued at $137,000 after buying an additional 92 shares during the last quarter. Victory Capital Management Inc. raised its position in Stamps.com by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,038 shares of the software maker’s stock valued at $161,000 after buying an additional 156 shares during the last quarter. Bank of Montreal Can raised its position in Stamps.com by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 1,074 shares of the software maker’s stock valued at $167,000 after buying an additional 17 shares during the last quarter. Finally, Turner Investments LLC purchased a new stake in Stamps.com in the 2nd quarter valued at $194,000.
STMP has been the subject of a number of analyst reports. Northland Securities reissued a “buy” rating and issued a $250.00 price target on shares of Stamps.com in a research report on Thursday, October 12th. Zacks Investment Research raised Stamps.com from a “hold” rating to a “strong-buy” rating and set a $222.00 target price for the company in a research report on Tuesday, August 29th. Craig Hallum reaffirmed a “buy” rating and set a $210.00 target price (up from $170.00) on shares of Stamps.com in a research report on Thursday, August 3rd. ValuEngine lowered Stamps.com from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, B. Riley set a $250.00 target price on Stamps.com and gave the company a “buy” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Stamps.com presently has an average rating of “Buy” and a consensus target price of $217.71.
Stamps.com Inc. (NASDAQ:STMP) opened at $175.00 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a market capitalization of $3,058.78, a price-to-earnings ratio of 22.04, a PEG ratio of 1.58 and a beta of 0.08. Stamps.com Inc. has a 12 month low of $99.81 and a 12 month high of $233.13.
Stamps.com declared that its Board of Directors has approved a stock repurchase program on Thursday, November 2nd that authorizes the company to repurchase $90.00 million in shares. This repurchase authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Stamps.com news, insider Amine Khechfe sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $226.65, for a total value of $271,980.00. Following the completion of the transaction, the insider now owns 1,442 shares in the company, valued at approximately $326,829.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Roland Clem sold 800 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 461,754 shares of company stock valued at $93,748,848 in the last quarter. 11.08% of the stock is owned by corporate insiders.
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Stamps.com Inc is a provider of Internet-based mailing and shipping solutions in the United States. The Company offers mailing and shipping products and services to its customers under the Stamps.com, Endicia, ShipStation, ShipWorks and ShippingEasy brands. It operates through the Internet Mailing and Shipping Services segment.
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