Edgestream Partners L.P. acquired a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,419 shares of the software maker’s stock, valued at approximately $1,425,000.
Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in SPS Commerce in the second quarter valued at $27,000. Altshuler Shaham Ltd bought a new stake in SPS Commerce in the first quarter valued at $32,000. Cullen Frost Bankers Inc. lifted its stake in SPS Commerce by 74.2% in the first quarter. Cullen Frost Bankers Inc. now owns 270 shares of the software maker’s stock valued at $41,000 after buying an additional 115 shares during the last quarter. State of Wyoming lifted its stake in SPS Commerce by 40.2% in the fourth quarter. State of Wyoming now owns 356 shares of the software maker’s stock valued at $46,000 after buying an additional 102 shares during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in SPS Commerce in the first quarter valued at $61,000. 98.96% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research note on Tuesday, September 19th. Craig Hallum raised their target price on SPS Commerce from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 28th. StockNews.com initiated coverage on SPS Commerce in a report on Thursday, October 5th. They set a “hold” rating on the stock. Northland Securities raised SPS Commerce from a “market perform” rating to an “outperform” rating and raised their price target for the company from $175.00 to $177.00 in a report on Friday, October 27th. Finally, DA Davidson initiated coverage on SPS Commerce in a report on Tuesday, November 14th. They set a “buy” rating and a $200.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $185.43.
Insider Buying and Selling
In related news, Director Philip Soran sold 3,026 shares of SPS Commerce stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $176.55, for a total transaction of $534,240.30. Following the transaction, the director now directly owns 18,387 shares of the company’s stock, valued at $3,246,224.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Philip Soran sold 3,026 shares of SPS Commerce stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $176.55, for a total value of $534,240.30. Following the transaction, the director now owns 18,387 shares of the company’s stock, valued at approximately $3,246,224.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 1,504 shares of SPS Commerce stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $165.40, for a total value of $248,761.60. Following the completion of the transaction, the chief financial officer now directly owns 147,234 shares in the company, valued at approximately $24,352,503.60. The disclosure for this sale can be found here. Insiders have sold a total of 29,902 shares of company stock valued at $4,915,416 over the last three months. Company insiders own 1.20% of the company’s stock.
SPS Commerce Stock Down 1.2 %
NASDAQ:SPSC opened at $170.38 on Tuesday. The business’s 50-day moving average price is $168.73 and its 200 day moving average price is $172.40. The firm has a market cap of $6.25 billion, a P/E ratio of 101.42 and a beta of 0.80. SPS Commerce, Inc. has a 52-week low of $120.66 and a 52-week high of $196.39.
SPS Commerce (NASDAQ:SPSC – Get Free Report) last released its earnings results on Thursday, October 26th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The firm had revenue of $135.66 million for the quarter, compared to analyst estimates of $134.20 million. SPS Commerce had a return on equity of 12.21% and a net margin of 12.20%. Sell-side analysts expect that SPS Commerce, Inc. will post 1.87 EPS for the current year.
SPS Commerce Profile
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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