Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Commerce.com, Inc. (NASDAQ:CMRC)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Commerce.com by 55.7%, acquiring 387,836 shares during the first quarter, bringing its total to approximately 1,083,965 shares valued at $6.24 million.
• Commerce.com reported $0.04 earnings per share for the latest quarter, exceeding analysts' expectations of $0.03, despite a revenue of $84.43 million which was below the estimated $86.08 million.
• Several brokerage firms have different ratings for Commerce.com, with Canaccord Genuity upgrading it to a "buy" and issuing a price target of $11, while others like the Goldman Sachs Group and Morgan Stanley reduced their price targets to $8.50 and $7.00, respectively.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Commerce.com, Inc. (NASDAQ:CMRC - Free Report) by 55.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,083,965 shares of the company's stock after buying an additional 387,836 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.38% of Commerce.com worth $6,244,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CMRC. Divisar Capital Management LLC boosted its stake in Commerce.com by 48.5% in the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company's stock worth $11,457,000 after purchasing an additional 611,811 shares during the period. Millennium Management LLC boosted its stake in shares of Commerce.com by 1,073.1% during the 4th quarter. Millennium Management LLC now owns 1,245,111 shares of the company's stock worth $7,620,000 after acquiring an additional 1,138,977 shares during the period. Deutsche Bank AG lifted its position in Commerce.com by 1.5% during the fourth quarter. Deutsche Bank AG now owns 990,275 shares of the company's stock worth $6,060,000 after acquiring an additional 14,772 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Commerce.com by 6.7% in the 4th quarter. Renaissance Technologies LLC now owns 880,005 shares of the company's stock valued at $5,386,000 after buying an additional 55,353 shares in the last quarter. Finally, Northern Trust Corp increased its position in Commerce.com by 8.4% during the fourth quarter. Northern Trust Corp now owns 662,877 shares of the company's stock worth $4,057,000 after acquiring an additional 51,428 shares during the period. 79.21% of the stock is owned by institutional investors.

Commerce.com Price Performance

Shares of NASDAQ CMRC traded up $0.11 during mid-day trading on Friday, hitting $4.65. 703,938 shares of the company's stock traded hands, compared to its average volume of 849,566. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 2.13. Commerce.com, Inc. has a 1 year low of $4.14 and a 1 year high of $7.99. The company's 50-day moving average is $4.92 and its two-hundred day moving average is $5.47. The company has a market capitalization of $375.44 million, a P/E ratio of -21.14 and a beta of 1.15.

Commerce.com (NASDAQ:CMRC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Commerce.com had a negative return on equity of 25.13% and a negative net margin of 5.37%. The firm had revenue of $84.43 million during the quarter, compared to analyst estimates of $86.08 million. During the same period in the previous year, the company posted $0.05 EPS. The business's revenue for the quarter was up 3.2% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

CMRC has been the topic of several recent analyst reports. Wall Street Zen upgraded Commerce.com from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Barclays cut their price objective on Commerce.com from $7.00 to $6.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group dropped their price objective on Commerce.com from $9.50 to $8.50 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $11.00 price target on shares of Commerce.com in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.07.

Commerce.com Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.