Lazard Asset Management LLC Increases Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Lazard Asset Management LLC increased its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSCGet Rating) by 60.1% in the second quarter, HoldingsChannel reports. The firm owned 2,433 shares of the software maker’s stock after buying an additional 913 shares during the quarter. Lazard Asset Management LLC’s holdings in SPS Commerce were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FDx Advisors Inc. increased its position in SPS Commerce by 3.4% during the 2nd quarter. FDx Advisors Inc. now owns 2,885 shares of the software maker’s stock worth $326,000 after purchasing an additional 95 shares in the last quarter. Cetera Investment Advisers increased its position in SPS Commerce by 6.8% during the 1st quarter. Cetera Investment Advisers now owns 1,791 shares of the software maker’s stock worth $235,000 after purchasing an additional 114 shares in the last quarter. Great West Life Assurance Co. Can increased its position in SPS Commerce by 0.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,074 shares of the software maker’s stock worth $4,179,000 after purchasing an additional 118 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in SPS Commerce by 3.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,389 shares of the software maker’s stock worth $445,000 after purchasing an additional 119 shares in the last quarter. Finally, Brinker Capital Investments LLC increased its position in SPS Commerce by 5.5% during the 2nd quarter. Brinker Capital Investments LLC now owns 2,316 shares of the software maker’s stock worth $262,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Analysts Set New Price Targets

SPSC has been the subject of a number of recent research reports. Craig Hallum dropped their price objective on SPS Commerce from $210.00 to $160.00 in a research report on Thursday, July 28th. TheStreet lowered SPS Commerce from a “b-” rating to a “c” rating in a research note on Friday, October 28th. StockNews.com began coverage on SPS Commerce in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus raised their price target on SPS Commerce from $140.00 to $150.00 in a research note on Wednesday, October 5th.

SPS Commerce Price Performance

NASDAQ SPSC opened at $129.19 on Friday. The firm has a market capitalization of $4.66 billion, a P/E ratio of 92.28 and a beta of 0.71. SPS Commerce, Inc. has a 1-year low of $96.41 and a 1-year high of $152.09. The business’s 50-day simple moving average is $125.20 and its 200-day simple moving average is $118.18.

Insider Activity

In other news, Director Philip Soran sold 1,000 shares of SPS Commerce stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $135.00, for a total value of $135,000.00. Following the transaction, the director now directly owns 17,684 shares of the company’s stock, valued at approximately $2,387,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Archie C. Black sold 3,845 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $125.17, for a total transaction of $481,278.65. Following the transaction, the chief executive officer now directly owns 56,272 shares of the company’s stock, valued at approximately $7,043,566.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip Soran sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $135.00, for a total value of $135,000.00. Following the transaction, the director now directly owns 17,684 shares in the company, valued at $2,387,340. The disclosure for this sale can be found here. Insiders have sold 23,138 shares of company stock valued at $3,091,625 in the last three months. Corporate insiders own 1.30% of the company’s stock.

SPS Commerce Profile

(Get Rating)

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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