Teacher Retirement System of Texas Takes Position in Stamps.com Inc. (STMP)
Teacher Retirement System of Texas acquired a new stake in Stamps.com Inc. (NASDAQ:STMP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,312 shares of the software maker’s stock, valued at approximately $203,000.
Other hedge funds also recently made changes to their positions in the company. Comerica Bank raised its stake in shares of Stamps.com by 66.4% in the first quarter. Comerica Bank now owns 28,248 shares of the software maker’s stock valued at $2,931,000 after buying an additional 11,270 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Stamps.com by 11.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,283 shares of the software maker’s stock valued at $389,000 after buying an additional 332 shares during the period. Bank of New York Mellon Corp raised its stake in Stamps.com by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 260,239 shares of the software maker’s stock valued at $30,799,000 after buying an additional 5,095 shares during the period. Capital Fund Management S.A. acquired a new stake in Stamps.com during the first quarter valued at about $4,402,000. Finally, First Trust Advisors LP raised its stake in Stamps.com by 54.3% in the first quarter. First Trust Advisors LP now owns 14,234 shares of the software maker’s stock valued at $1,685,000 after buying an additional 5,011 shares during the period.
Stamps.com Inc. (STMP) opened at 195.45 on Thursday. The company’s 50-day moving average is $176.48 and its 200 day moving average is $139.36. The stock has a market cap of $3.30 billion, a PE ratio of 31.61 and a beta of 0.01. Stamps.com Inc. has a 52 week low of $84.87 and a 52 week high of $220.25.
Stamps.com (NASDAQ:STMP) last announced its earnings results on Wednesday, August 2nd. The software maker reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.36. The business had revenue of $116.14 million during the quarter, compared to the consensus estimate of $99.29 million. Stamps.com had a return on equity of 34.46% and a net margin of 26.66%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 EPS. On average, analysts expect that Stamps.com Inc. will post $8.05 earnings per share for the current fiscal year.
Stamps.com declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 3rd that allows the company to buyback $90.00 million in shares. This buyback authorization allows the software maker to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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Several research firms have recently issued reports on STMP. Roth Capital reissued a “buy” rating and issued a $166.00 price target on shares of Stamps.com in a research report on Wednesday, May 31st. Craig Hallum set a $230.00 price target on shares of Stamps.com and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research raised shares of Stamps.com from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Friday, June 2nd. Finally, B. Riley reissued a “buy” rating and issued a $210.00 price target on shares of Stamps.com in a research report on Sunday, May 28th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $205.33.
In other news, Director Mohan P. Ananda sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $144.41, for a total transaction of $5,776,400.00. Following the completion of the transaction, the director now directly owns 726,524 shares of the company’s stock, valued at approximately $104,917,330.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lloyd I. Miller III sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $194.75, for a total value of $194,750.00. Following the transaction, the director now directly owns 195,269 shares of the company’s stock, valued at $38,028,637.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,706 shares of company stock valued at $43,533,434. 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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