Employees Retirement System of Texas Purchases New Stake in CommerceHub, Inc. (CHUBA)
Employees Retirement System of Texas purchased a new position in shares of CommerceHub, Inc. (NASDAQ:CHUBA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 407,000 shares of the technology company’s stock, valued at approximately $7,090,000. Employees Retirement System of Texas owned 0.94% of CommerceHub as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of CHUBA. Vaughan Nelson Investment Management L.P. purchased a new position in CommerceHub during the second quarter valued at approximately $18,142,000. First Quadrant L P CA purchased a new stake in shares of CommerceHub in the second quarter valued at approximately $154,000. Russell Investments Group Ltd. purchased a new stake in shares of CommerceHub in the second quarter valued at approximately $949,000. Pembroke Management LTD purchased a new stake in shares of CommerceHub in the second quarter valued at approximately $15,480,000. Finally, Locust Wood Capital Advisers LLC acquired a new position in shares of CommerceHub during the 2nd quarter worth approximately $3,752,000. 25.64% of the stock is owned by institutional investors.
CommerceHub, Inc. (CHUBA) opened at 23.21 on Wednesday. The company has a 50-day moving average price of $22.95 and a 200 day moving average price of $22.95. The stock has a market capitalization of $1.00 billion and a price-to-earnings ratio of 93.97. CommerceHub, Inc. has a 12 month low of $13.25 and a 12 month high of $24.53.
CommerceHub (NASDAQ:CHUBA) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). CommerceHub had a net margin of 10.81% and a return on equity of 36.84%. The firm had revenue of $25.21 million during the quarter, compared to analysts’ expectations of $25.76 million. Equities analysts predict that CommerceHub, Inc. will post $0.48 earnings per share for the current year.
Several research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $26.00 price target (up previously from $22.00) on shares of CommerceHub in a research report on Monday. Zacks Investment Research downgraded CommerceHub from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. DA Davidson assumed coverage on CommerceHub in a research report on Friday, September 22nd. They set a “buy” rating and a $27.00 price objective on the stock. Finally, First Analysis initiated coverage on shares of CommerceHub in a report on Friday, August 25th. They issued an “overweight” rating and a $25.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.00.
CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.
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