Bank of New York Mellon Corp lowered its stake in shares of PFSweb Inc. (NASDAQ:PFSW) by 32.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,979 shares of the company’s stock after selling 50,020 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of PFSweb worth $968,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in PFSW. State Street Corp raised its stake in PFSweb by 6.0% in the first quarter. State Street Corp now owns 136,027 shares of the company’s stock valued at $1,782,000 after buying an additional 7,732 shares in the last quarter. Geode Capital Management LLC raised its stake in PFSweb by 20.4% in the first quarter. Geode Capital Management LLC now owns 110,629 shares of the company’s stock valued at $1,451,000 after buying an additional 18,772 shares in the last quarter. Northpointe Capital LLC acquired a new stake in PFSweb during the second quarter valued at approximately $208,000. Bank of Montreal Can acquired a new stake in PFSweb during the second quarter valued at approximately $287,000. Finally, Acadian Asset Management LLC acquired a new stake in PFSweb during the second quarter valued at approximately $297,000. 64.24% of the stock is owned by institutional investors and hedge funds.
PFSweb Inc. (NASDAQ:PFSW) traded down 0.12% during midday trading on Friday, reaching $8.49. 75,086 shares of the company’s stock were exchanged. PFSweb Inc. has a 1-year low of $8.37 and a 1-year high of $16.54. The firm’s 50-day moving average is $9.31 and its 200 day moving average is $11.15. The stock’s market cap is $158.76 million.
PFSweb (NASDAQ:PFSW) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. PFSweb had a negative net margin of 2.30% and a negative return on equity of 6.67%. The company earned $77.20 million during the quarter, compared to analysts’ expectations of $70.74 million. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts anticipate that PFSweb Inc. will post $0.32 earnings per share for the current fiscal year.
Several research firms recently commented on PFSW. B. Riley reissued a “buy” rating and set a $18.00 target price on shares of PFSweb in a research note on Wednesday, September 21st. Zacks Investment Research downgraded shares of PFSweb from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Lake Street Capital reduced their price target on shares of PFSweb from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. TheStreet downgraded shares of PFSweb from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Finally, Canaccord Genuity restated a “buy” rating and issued a $17.00 price target on shares of PFSweb in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. PFSweb presently has a consensus rating of “Buy” and a consensus target price of $17.14.
PFSWEB, Inc is a global provider of omni-channel commerce solutions, including a range of technology, infrastructure and professional services. The Company’s service offerings include Website design, creation and integration, digital agency and marketing, e-commerce technologies, order management, customer care, logistics and fulfillment, financial management and professional consulting.
Want to see what other hedge funds are holding PFSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PFSweb Inc. (NASDAQ:PFSW).
Receive News & Ratings for PFSweb Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PFSweb Inc. and related companies with MarketBeat.com's FREE daily email newsletter.