SYSTM Wealth Solutions LLC Lowers Stock Holdings in Shopify Inc. (NYSE:SHOP)

SYSTM Wealth Solutions LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 93.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 802 shares of the software maker’s stock after selling 10,884 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Shopify were worth $53,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SHOP. Capital World Investors lifted its holdings in shares of Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. lifted its stake in Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares during the last quarter. GQG Partners LLC grew its position in shares of Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after purchasing an additional 542,503 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 4.6 %

NYSE:SHOP opened at $78.70 on Friday. The firm has a 50-day simple moving average of $68.13 and a 200-day simple moving average of $68.39. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The firm has a market cap of $101.42 billion, a P/E ratio of -462.94, a P/E/G ratio of 2.47 and a beta of 2.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Equities analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHOP. UBS Group increased their price target on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Evercore raised their target price on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and upped their price target for the company from $78.00 to $82.00 in a research note on Tuesday, July 16th. KeyCorp assumed coverage on shares of Shopify in a research note on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective for the company. Finally, Barclays boosted their target price on shares of Shopify from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $77.92.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.