Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

Connor Clark & Lunn Investment Management Ltd. raised its position in Lightspeed Commerce Inc. (NYSE:LSPD) by 226.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 370,500 shares of the company’s stock after acquiring an additional 256,900 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Lightspeed Commerce were worth $6,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Lightspeed Commerce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company’s stock worth $71,699,000 after purchasing an additional 62,394 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Lightspeed Commerce by 297.6% during the second quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company’s stock worth $1,236,000 after acquiring an additional 67,584 shares during the last quarter. Addenda Capital Inc. increased its holdings in shares of Lightspeed Commerce by 10.5% during the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock valued at $603,000 after acquiring an additional 4,196 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in shares of Lightspeed Commerce in the 2nd quarter valued at approximately $9,241,000. Finally, CIBC Asset Management Inc raised its position in shares of Lightspeed Commerce by 6.6% in the 2nd quarter. CIBC Asset Management Inc now owns 175,008 shares of the company’s stock valued at $2,391,000 after purchasing an additional 10,809 shares during the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LSPD shares. Wells Fargo & Company cut their price target on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered their price target on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. BTIG Research reissued a “buy” rating and issued a $21.00 price objective on shares of Lightspeed Commerce in a report on Thursday, September 26th. Finally, Benchmark raised their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lightspeed Commerce presently has a consensus rating of “Moderate Buy” and an average price target of $19.88.

Lightspeed Commerce Trading Up 0.4 %

LSPD stock opened at $17.74 on Friday. Lightspeed Commerce Inc. has a 52-week low of $11.01 and a 52-week high of $21.71. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.69 billion, a P/E ratio of -19.93 and a beta of 2.35. The company’s 50-day simple moving average is $15.86 and its 200-day simple moving average is $14.39.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $277.18 million for the quarter, compared to the consensus estimate of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. As a group, equities analysts forecast that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

Lightspeed Commerce Profile

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.