By otakuyassine3@gmail.com 
Arizona State Retirement System increased its position in SPS Commerce, Inc. (NASDAQ:SPSC – Free Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,755 shares of the software maker’s stock after purchasing an additional 92 shares during the period. Arizona State Retirement System’s holdings in SPS Commerce were worth $1,979,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in SPS Commerce by 94.5% during the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after acquiring an additional 210,284 shares during the period. FMR LLC lifted its stake in SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after acquiring an additional 104,769 shares during the period. JPMorgan Chase & Co. lifted its stake in SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after acquiring an additional 104,210 shares during the period. Loomis Sayles & Co. L P bought a new position in SPS Commerce during the 3rd quarter valued at about $17,128,000. Finally, Proficio Capital Partners LLC bought a new position in SPS Commerce during the 4th quarter valued at about $14,083,000. Institutional investors own 98.96% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on SPSC. Northland Securities restated a “market perform” rating and set a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Citigroup lowered their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Stifel Nicolaus lowered their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Needham & Company LLC lowered their price objective on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.
View Our Latest Research Report on SPS Commerce
Insider Buying and Selling at SPS Commerce
In related news, EVP Dan Juckniess sold 2,591 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the transaction, the executive vice president now directly owns 1,367,584 shares of the company’s stock, valued at approximately $202,429,783.68. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares of the company’s stock, valued at approximately $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,695 shares of company stock valued at $7,781,086 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
SPS Commerce Trading Up 0.5 %
SPS Commerce stock opened at $126.51 on Wednesday. The firm has a 50 day moving average of $167.25 and a 200 day moving average of $181.53. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 62.02 and a beta of 0.92. SPS Commerce, Inc. has a 12-month low of $122.74 and a 12-month high of $218.61.
SPS Commerce (NASDAQ:SPSC – Get Free Report) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. On average, analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.
SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.
See Also
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