SPS Commerce, Inc. (NASDAQ:SPSC) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 0.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,709 shares of the software maker’s stock after acquiring an additional 100 shares during the period. Martingale Asset Management L P’s holdings in SPS Commerce were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted its stake in SPS Commerce by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock valued at $242,437,000 after buying an additional 21,170 shares during the last quarter. FMR LLC boosted its stake in SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares during the period. Dimensional Fund Advisors LP grew its position in SPS Commerce by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after purchasing an additional 12,552 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SPS Commerce by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after purchasing an additional 8,186 shares during the period. Finally, Geneva Capital Management LLC boosted its position in shares of SPS Commerce by 0.5% during the third quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker’s stock worth $86,170,000 after buying an additional 1,994 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 approximately $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 accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SPSC. Stifel Nicolaus raised their target price on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird lifted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $220.78.

SPS Commerce Stock Up 0.3 %

Shares of NASDAQ SPSC opened at $193.07 on Friday. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 92.38 and a beta of 0.84. The stock’s fifty day simple moving average is $186.56 and its 200 day simple moving average is $191.25.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, analysts anticipate that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

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.