Swiss National Bank Cuts Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Swiss National Bank lessened its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,300 shares of the software maker’s stock after selling 700 shares during the quarter. Swiss National Bank owned 0.19% of SPS Commerce worth $14,038,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SPSC. Public Employees Retirement Association of Colorado increased its holdings in shares of SPS Commerce by 2,099.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after purchasing an additional 92,381 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in SPS Commerce by 662.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock valued at $17,065,000 after acquiring an additional 78,805 shares in the last quarter. F M Investments LLC purchased a new position in SPS Commerce during the 2nd quarter valued at about $13,869,000. Hantz Financial Services Inc. purchased a new position in SPS Commerce during the 2nd quarter valued at about $12,876,000. Finally, Conestoga Capital Advisors LLC increased its holdings in SPS Commerce by 2.4% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,227,411 shares of the software maker’s stock valued at $230,950,000 after acquiring an additional 28,970 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Performance

SPS Commerce stock opened at $189.13 on Friday. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74. The firm has a 50 day moving average price of $186.72 and a 200 day moving average price of $191.24. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 90.49 and a beta of 0.84.

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

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SPSC has been the subject of several recent research reports. DA Davidson raised their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a report on Friday, July 26th. Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and raised their target price for the company from $205.00 to $209.00 in a report on Monday, July 29th. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a report on Friday, October 25th. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Craig Hallum raised their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $223.63.

About SPS Commerce

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.