Bessemer Group Inc. Purchases 38,037 Shares of Stamps.com Inc. (STMP)
Bessemer Group Inc. boosted its position in Stamps.com Inc. (NASDAQ:STMP) by 452.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 46,437 shares of the software maker’s stock after buying an additional 38,037 shares during the period. Bessemer Group Inc.’s holdings in Stamps.com were worth $10,504,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Stamps.com in the first quarter valued at about $123,000. Royal Bank of Canada lifted its stake in shares of Stamps.com by 19.2% in the first quarter. Royal Bank of Canada now owns 11,235 shares of the software maker’s stock valued at $2,258,000 after purchasing an additional 1,811 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Stamps.com by 2.6% in the first quarter. Principal Financial Group Inc. now owns 133,753 shares of the software maker’s stock valued at $26,891,000 after purchasing an additional 3,328 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Stamps.com by 4.2% in the second quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the software maker’s stock valued at $1,898,000 after purchasing an additional 300 shares during the period. Finally, World Asset Management Inc acquired a new stake in shares of Stamps.com in the second quarter valued at about $207,000. Institutional investors and hedge funds own 92.28% of the company’s stock.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Stamps.com from a “hold” rating to a “strong-buy” rating and set a $204.00 price objective for the company in a research note on Wednesday, November 7th. BidaskClub cut shares of Stamps.com from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. ValuEngine cut shares of Stamps.com from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Craig Hallum cut their target price on shares of Stamps.com from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Finally, Maxim Group set a $320.00 target price on shares of Stamps.com and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $250.25.
Shares of STMP opened at $160.59 on Wednesday. The company has a quick ratio of 3.38, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.14 and a beta of 0.23. Stamps.com Inc. has a 12-month low of $157.98 and a 12-month high of $285.74.
Stamps.com (NASDAQ:STMP) last announced its earnings results on Wednesday, October 31st. The software maker reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.38. The company had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $135.00 million. Stamps.com had a net margin of 30.26% and a return on equity of 35.93%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.68 earnings per share. As a group, research analysts anticipate that Stamps.com Inc. will post 9.79 earnings per share for the current year.
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Stamps.com Company Profile
Stamps.com Inc provides Internet-based mailing and shipping solutions in the United States. The company offers mailing and shipping solutions to mail and ship various mail pieces and packages through the United States Postal Service (USPS) under the Stamps.com and Endicia brands. Its solutions support various USPS mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, Parcel Select, and others.
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