Raymond James Financial Inc. Takes Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Raymond James Financial Inc. bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 149,145 shares of the software maker’s stock, valued at approximately $27,441,000.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in SPS Commerce in the 4th quarter worth about $40,000. Blue Trust Inc. boosted its stake in SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after purchasing an additional 84 shares in the last quarter. R Squared Ltd bought a new position in SPS Commerce in the 4th quarter worth about $57,000. Finally, Arcadia Investment Management Corp MI bought a new position in SPS Commerce in the 4th quarter worth about $57,000. Institutional investors own 98.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their price target 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. Needham & Company LLC dropped their price target 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. Northland Securities reiterated a “market perform” rating and issued a $181.00 price target (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. Finally, Stifel Nicolaus lowered their target price 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Activity

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the sale, the chief financial officer now owns 156,292 shares of the company’s stock, valued at $28,864,006.56. This represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,695 shares of company stock valued at $7,781,086 in the last quarter. 1.00% of the stock is currently owned by insiders.

SPS Commerce Stock Up 5.2 %

NASDAQ SPSC opened at $129.43 on Friday. SPS Commerce, Inc. has a 52 week low of $122.58 and a 52 week high of $218.61. The firm has a market capitalization of $4.89 billion, a P/E ratio of 63.45 and a beta of 0.92. The company has a 50-day moving average price of $163.76 and a 200-day moving average price of $180.25.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. As a group, equities research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current year.

SPS Commerce 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.