Icon Wealth Advisors LLC Increases Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Icon Wealth Advisors LLC lifted its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 2,362.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,056 shares of the software maker’s stock after acquiring an additional 40,348 shares during the quarter. Icon Wealth Advisors LLC’s holdings in SPS Commerce were worth $8,166,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Citigroup Inc. increased its holdings in SPS Commerce by 56.3% in the third quarter. Citigroup Inc. now owns 54,451 shares of the software maker’s stock valued at $10,573,000 after buying an additional 19,618 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in SPS Commerce by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after acquiring an additional 8,186 shares during the period. Intech Investment Management LLC boosted its stake in SPS Commerce by 170.1% in the third quarter. Intech Investment Management LLC now owns 8,148 shares of the software maker’s stock valued at $1,582,000 after acquiring an additional 5,131 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in SPS Commerce by 9.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,898 shares of the software maker’s stock valued at $16,679,000 after acquiring an additional 7,762 shares during the period. Finally, Moran Wealth Management LLC boosted its stake in SPS Commerce by 38.4% in the third quarter. Moran Wealth Management LLC now owns 2,803 shares of the software maker’s stock valued at $544,000 after acquiring an additional 777 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on SPSC shares. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $205.00 to $209.00 in a research note on Monday, July 29th. DA Davidson boosted their price objective on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird boosted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus boosted their price objective on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, SPS Commerce currently has an average rating of “Moderate Buy” and an average target price of $223.63.

SPS Commerce Trading Up 3.6 %

NASDAQ SPSC opened at $186.32 on Friday. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The company has a market capitalization of $7.00 billion, a PE ratio of 89.15 and a beta of 0.84. The firm’s fifty day simple moving average is $186.75 and its 200-day simple moving average is $191.28.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s revenue was up 20.7% on a year-over-year basis. As a group, analysts predict that SPS Commerce, Inc. will post 2.39 EPS for the current year.

Insiders Place Their Bets

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

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.