Rice Hall James & Associates LLC raised its position in shares of Stamps.com Inc. (NASDAQ:STMP) by 19.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 312,063 shares of the software maker’s stock after buying an additional 51,346 shares during the period. Stamps.com accounts for about 2.1% of Rice Hall James & Associates LLC’s portfolio, making the stock its 3rd largest position. Rice Hall James & Associates LLC’s holdings in Stamps.com were worth $48,331,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Strs Ohio acquired a new position in shares of Stamps.com during the first quarter worth approximately $12,130,000. Teachers Advisors LLC increased its position in shares of Stamps.com by 8.9% in the fourth quarter. Teachers Advisors LLC now owns 160,237 shares of the software maker’s stock worth $18,371,000 after buying an additional 13,057 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of Stamps.com by 5.7% in the first quarter. Mason Street Advisors LLC now owns 3,664 shares of the software maker’s stock worth $434,000 after buying an additional 199 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Stamps.com by 16.8% in the first quarter. Alliancebernstein L.P. now owns 25,686 shares of the software maker’s stock worth $3,040,000 after buying an additional 3,700 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Stamps.com by 51.9% in the first quarter. Fisher Asset Management LLC now owns 24,936 shares of the software maker’s stock worth $2,951,000 after buying an additional 8,522 shares during the last quarter.
Shares of Stamps.com Inc. (NASDAQ STMP) opened at 205.35 on Friday. The company has a market cap of $3.47 billion, a P/E ratio of 33.21 and a beta of 0.01. The stock’s 50 day moving average is $159.18 and its 200 day moving average is $132.75. Stamps.com Inc. has a 1-year low of $84.52 and a 1-year high of $220.25.
Stamps.com (NASDAQ:STMP) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.36. Stamps.com had a net margin of 26.66% and a return on equity of 34.46%. The business had revenue of $116.14 million during the quarter, compared to analysts’ expectations of $99.29 million. During the same quarter in the prior year, the company posted $1.94 EPS. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, analysts predict that Stamps.com Inc. will post $8.05 earnings per share for the current year.
Stamps.com declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 3rd that authorizes the company to repurchase $90.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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A number of research analysts recently commented on STMP shares. Roth Capital reaffirmed a “buy” rating and issued a $166.00 price target on shares of Stamps.com in a report on Wednesday, May 31st. ValuEngine raised shares of Stamps.com from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Stamps.com from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Friday, June 23rd. Craig Hallum reissued a “buy” rating and issued a $210.00 price objective (up previously from $170.00) on shares of Stamps.com in a research note on Thursday, August 3rd. Finally, Sidoti reissued a “buy” rating and issued a $182.00 price objective on shares of Stamps.com in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $192.67.
In other news, insider Seth Weisberg sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $140.36, for a total value of $701,800.00. Following the transaction, the insider now directly owns 23,072 shares in the company, valued at approximately $3,238,385.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Amine Khechfe sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $137.85, for a total transaction of $165,420.00. Following the completion of the transaction, the insider now owns 1,372 shares in the company, valued at $189,130.20. The disclosure for this sale can be found here. In the last three months, insiders sold 117,600 shares of company stock valued at $20,065,170. Corporate insiders own 11.46% of the company’s stock.
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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