JPMorgan Chase & Co. Has $49.40 Million Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

JPMorgan Chase & Co. boosted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 69.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,439 shares of the software maker’s stock after acquiring an additional 104,210 shares during the quarter. JPMorgan Chase & Co.’s holdings in SPS Commerce were worth $49,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPSC. Pathstone Holdings LLC increased its position in shares of SPS Commerce by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock worth $3,820,000 after purchasing an additional 54 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SPS Commerce by 4.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock worth $256,000 after buying an additional 55 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of SPS Commerce by 5.0% in the third quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock valued at $237,000 after acquiring an additional 58 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of SPS Commerce by 2.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock worth $449,000 after acquiring an additional 62 shares in the last quarter. Finally, Signaturefd LLC grew its position in SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after acquiring an additional 69 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

Insider Activity

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the transaction, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chadwick Collins sold 6,839 shares of the company’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 transaction, 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 position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on SPSC. Robert W. Baird lifted their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Piper Sandler began coverage on SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday. Finally, Stifel Nicolaus lowered their price objective on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.00.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $186.85 on Friday. The firm’s 50 day simple moving average is $186.00 and its 200 day simple moving average is $191.39. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 89.40 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts expect that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

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.