Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Stamps.com Inc. (NASDAQ:STMP) by 47.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 793 shares of the software maker’s stock after buying an additional 255 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stamps.com were worth $149,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Congress Asset Management Co. MA increased its holdings in shares of Stamps.com by 26.5% in the 4th quarter. Congress Asset Management Co. MA now owns 18,279 shares of the software maker’s stock worth $3,436,000 after purchasing an additional 3,834 shares in the last quarter. Sutton Square Management L.P. bought a new stake in shares of Stamps.com in the 4th quarter worth $8,101,000. Capital Management Corp VA increased its holdings in shares of Stamps.com by 1.8% in the 4th quarter. Capital Management Corp VA now owns 49,545 shares of the software maker’s stock worth $9,314,000 after purchasing an additional 883 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of Stamps.com by 188.1% in the 4th quarter. APG Asset Management N.V. now owns 45,800 shares of the software maker’s stock worth $7,171,000 after purchasing an additional 29,900 shares in the last quarter. Finally, Boston Advisors LLC bought a new stake in shares of Stamps.com in the 4th quarter worth $535,000. 98.94% of the stock is owned by institutional investors and hedge funds.
Shares of Stamps.com Inc. (STMP) opened at $200.95 on Monday. The company has a quick ratio of 2.80, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. Stamps.com Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $233.12. The company has a market capitalization of $3,510.00, a price-to-earnings ratio of 24.57, a P/E/G ratio of 2.24 and a beta of -0.05.
Stamps.com announced that its Board of Directors has approved a stock buyback program on Thursday, November 2nd that permits the company to repurchase $90.00 million in shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Amine Khechfe sold 1,200 shares of Stamps.com stock in a transaction on Friday, December 1st. The stock was sold at an average price of $167.40, for a total value of $200,880.00. Following the completion of the sale, the insider now owns 1,442 shares of the company’s stock, valued at $241,390.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth Thomas Mcbride sold 142,133 shares of Stamps.com stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $180.02, for a total value of $25,586,782.66. Following the completion of the sale, the chief executive officer now directly owns 73,599 shares of the company’s stock, valued at approximately $13,249,291.98. The disclosure for this sale can be found here. Insiders sold 175,674 shares of company stock valued at $31,850,230 in the last ninety days. 11.46% of the stock is currently owned by corporate insiders.
STMP has been the subject of a number of research analyst reports. Sidoti lifted their target price on Stamps.com from $254.00 to $265.00 in a report on Thursday. Northland Securities reissued a “buy” rating and issued a $250.00 target price on shares of Stamps.com in a report on Wednesday, November 22nd. Craig Hallum reissued a “buy” rating and issued a $215.00 target price (down previously from $230.00) on shares of Stamps.com in a report on Thursday. ValuEngine lowered Stamps.com from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Finally, B. Riley lifted their target price on Stamps.com from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Stamps.com has a consensus rating of “Buy” and a consensus price target of $228.86.
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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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