Fmr LLC Raises Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Fmr LLC boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 18.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 677,145 shares of the software maker’s stock after acquiring an additional 104,769 shares during the period. Fmr LLC owned 1.80% of SPS Commerce worth $131,481,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mather Group LLC. grew its stake in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of SPS Commerce in the 2nd quarter worth approximately $30,000. Blue Trust Inc. increased its stake in shares of SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in SPS Commerce in the second quarter worth $63,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Down 0.5 %

SPSC stock opened at $191.67 on Wednesday. The business has a 50 day moving average of $186.43 and a 200 day moving average of $191.14. The firm has a market cap of $7.20 billion, a PE ratio of 91.71 and a beta of 0.86. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. On average, research analysts expect that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Chadwick Collins sold 6,839 shares of the firm’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 owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SPSC. Robert W. Baird upped their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Piper Sandler began coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Stifel Nicolaus increased their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $220.78.

SPS Commerce Company 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.