As reported by the GuruFocus Real Time Picks, Columbia Wanger (Trades, Portfolio) has recently shuffled two companies’ stocks. The guru-rated fund upped its holdings in SPS Commerce Inc (SPSC) and decreased its stake in IFM Investments (CTC). As one of the 10 largest management firms in the U.S., Columbia Management Investment Advisers oversees $300 billion in a variety of mutual funds, closed-end funds and other products.
SPS Commerce
On July 2, Columbia Wanger (Trades, Portfolio) increased their holdings in SPC Commerce 17.52% by purchasing 251,000 shares of the company’s stock. The fund added these shares near the average daily price of $64.20 per share, and since then the price per share has dropped approximately -9% to $58.24 per share.
Columbia Wanger (Trades, Portfolio) is the largest guru shareholder of SPS Commerce stock, holding on to 1,623,300 shares of the company’s stock. This position makes up for 10.72% of the company’s shares outstanding as well as approximately 0.40% of the guru’s total portfolio.
Columbia Wanger (Trades, Portfolio)’s historical holding history as of the close of the first quarter:
As you can see from the chart above, Columbia Wanger (Trades, Portfolio) has been decreasing their holdings in the company since the first quarter of 2013 as the price has risen. Now as the company’s price has recently fallen to a 52-week low, the guru rated fund made a sizeable buy back into the company.
SPS Commerce is a provider of on-demand supply chain management solutions and the Retail Universe community, providing integration, collaboration, connectivity, visibility and data analytics to thousands of customers worldwide.
The company announced that they would release their second quarter financial results on July 24, 2014, after market close.
SPS Commerce’s historical revenue and net income:
The analysis on SPS Commerce reports that the company’s asset growth is currently faster than its revenue growth and that the company holds no debt.
There are four other gurus that maintain a position in SPS Commerce. Check out their holding histories here.
SPS Commerce has a market cap of $947 million. Its shares are currently trading at around $58.44 with a P/E ratio of 749.20, a P/S ratio of 8.70 and a P/B ratio of 4.90. The company had an annual average earnings growth of 15.10% over the past five years.
IFM Investments
As Columbia Wanger (Trades, Portfolio) increased his holdings in SPS Commerce the fund managers also reduced their position in IFM Investments. The fund cut their holdings -37.38% by selling 461,642 shares of the company’s stock. They sold these shares near the average daily price of $1.25 per share, and the company is still trading at around the same price.
Columbia Wanger (Trades, Portfolio) now holds on to 773,358 shares of the company’s stock, down from 1,235,000 shares. This position makes up for 5.21% of the company’s shares outstanding as well as a very minor 0.01% of the fund’s total assets managed.
Columbia Wanger (Trades, Portfolio)’s historical holdings as of the close of Q1:
Columbia Wanger (Trades, Portfolio) is the largest guru shareholder of IFM Investments.
IFM Investments operates under four different but closely related business lines: Company-owned brokerage services, primary and commercial services, mortgage management services and franchise services.
IFM Investment’s historical revenue and net income:
The analysis on IFM Investments reports that the company’s Altman Z-Score is in distress zone, which implies bankruptcy is possible within the next couple of years. It also notes that the company’s Piotroski F-Score is low, indicating poor business operation, and its revenue per share has been in decline over the past five years. On the other hand, the company has comfortable interest coverage and holds no debt.
Columbia Wanger (Trades, Portfolio) and Jim Simons (Trades, Portfolio) are the only gurus that hold a stake in IFM Investments. See Simons’ holding history here.
IFM Investors is a uniquely-structured global fund manager with A$52 billion in assets under management (as at 31 March 2014) across infrastructure, debt, equities and private capital. The fund manager was established over twenty years ago and is owned by 30 major not-for-profit pension funds.
IFM Investments has a market cap of $18.4 million. Its shares are currently trading at around $1.23 with a P/S ratio of 0.20 and a P/B ratio of 0.50.
Check out Columbia Wanger (Trades, Portfolio)’s complete portfolio and other real time picks here. Also, be on the look-out for the fund’s second quarter portfolio in the next few weeks.
