Quantbot Technologies LP Invests $452,000 in SPS Commerce, Inc. (NASDAQ:SPSC)

Quantbot Technologies LP acquired a new position in SPS Commerce, Inc. (NASDAQ:SPSCFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,651 shares of the software maker’s stock, valued at approximately $452,000.

A number of other hedge funds have also bought and sold shares of the business. MAI Capital Management purchased a new stake in SPS Commerce during the 2nd quarter valued at approximately $210,000. JPMorgan Chase & Co. boosted its holdings in shares of SPS Commerce by 55.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 139,841 shares of the software maker’s stock valued at $26,858,000 after acquiring an additional 49,604 shares during the last quarter. Franklin Resources Inc. grew its position in shares of SPS Commerce by 549.0% during the 2nd quarter. Franklin Resources Inc. now owns 177,715 shares of the software maker’s stock valued at $34,132,000 after acquiring an additional 150,330 shares during the period. US Bancorp DE lifted its stake in shares of SPS Commerce by 0.4% in the third quarter. US Bancorp DE now owns 59,860 shares of the software maker’s stock worth $10,213,000 after buying an additional 219 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of SPS Commerce by 1.6% during the third quarter. Raymond James & Associates now owns 103,669 shares of the software maker’s stock valued at $17,687,000 after acquiring an additional 1,612 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Stock Up 1.3 %

SPSC stock opened at $182.58 on Thursday. SPS Commerce, Inc. has a 52 week low of $136.10 and a 52 week high of $198.35. The firm has a 50 day moving average of $184.92 and a 200 day moving average of $176.30. The stock has a market capitalization of $6.70 billion, a PE ratio of 108.68 and a beta of 0.82.

Insider Buying and Selling at SPS Commerce

In related news, Director Archie C. Black sold 20,075 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $172.94, for a total transaction of $3,471,770.50. Following the transaction, the director now owns 60,043 shares of the company’s stock, valued at $10,383,836.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SPS Commerce news, Director Archie C. Black sold 20,075 shares of SPS Commerce stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $172.94, for a total transaction of $3,471,770.50. Following the transaction, the director now directly owns 60,043 shares of the company’s stock, valued at $10,383,836.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kimberly K. Nelson sold 12,907 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.41, for a total value of $2,315,644.87. Following the completion of the sale, the chief financial officer now directly owns 157,251 shares of the company’s stock, valued at approximately $28,212,401.91. The disclosure for this sale can be found here. Insiders sold a total of 65,055 shares of company stock worth $11,568,095 over the last three months. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

SPSC has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $205.00 target price on shares of SPS Commerce in a research note on Thursday, January 18th. Northland Securities raised shares of SPS Commerce from a “market perform” rating to an “outperform” rating and upped their target price for the company from $175.00 to $177.00 in a research note on Friday, October 27th. Finally, DA Davidson started coverage on SPS Commerce in a research note on Tuesday, November 14th. They set a “buy” rating and a $200.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus target price of $191.17.

Check Out Our Latest Research Report on SPSC

SPS Commerce Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SPSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPS Commerce, Inc. (NASDAQ:SPSCFree Report).

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

Receive News & Ratings for SPS Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPS Commerce and related companies with MarketBeat.com's FREE daily email newsletter.