Zacks Investment Management Grows Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Zacks Investment Management increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,047 shares of the software maker’s stock after buying an additional 637 shares during the period. Zacks Investment Management’s holdings in SPS Commerce were worth $1,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of SPS Commerce by 79.0% in the second quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker’s stock worth $1,562,000 after acquiring an additional 3,662 shares during the last quarter. AXA S.A. grew its position in SPS Commerce by 19.4% during the 2nd quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock valued at $5,530,000 after purchasing an additional 4,784 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in SPS Commerce during the 3rd quarter valued at about $3,178,000. Hsbc Holdings PLC raised its holdings in SPS Commerce by 448.2% in the second quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock worth $6,295,000 after buying an additional 27,376 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of SPS Commerce by 9,418.6% in the third quarter. International Assets Investment Management LLC now owns 9,709 shares of the software maker’s stock worth $1,885,000 after buying an additional 9,607 shares in the last quarter. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Up 1.7 %

Shares of NASDAQ SPSC opened at $196.01 on Tuesday. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 93.78 and a beta of 0.86. The firm has a 50 day moving average of $186.55 and a 200 day moving average of $191.10.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts predict that SPS Commerce, Inc. will post 2.38 EPS for the current year.

Insider Activity at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler started coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Robert W. Baird increased their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus boosted their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.78.

About SPS Commerce

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.