SPS Commerce, Inc. (NASDAQ:SPSC) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 260.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,575 shares of the software maker’s stock after buying an additional 27,164 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.10% of SPS Commerce worth $6,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in SPS Commerce during the fourth quarter worth about $40,000. Blue Trust Inc. increased its stake in shares of SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after purchasing an additional 84 shares in the last quarter. R Squared Ltd acquired a new position in shares of SPS Commerce during the 4th quarter worth approximately $57,000. Arcadia Investment Management Corp MI purchased a new stake in SPS Commerce in the 4th quarter valued at approximately $57,000. Finally, Trust Co. of Vermont acquired a new stake in SPS Commerce during the 4th quarter valued at $69,000. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In related news, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the transaction, the chief executive officer now owns 5,270,106 shares of the company’s stock, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the transaction, the executive vice president now owns 22,570 shares of the company’s stock, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock valued at $6,613,078 over the last three months. 1.00% of the stock is owned by company insiders.

SPS Commerce Price Performance

SPS Commerce stock opened at $129.63 on Friday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 63.54 and a beta of 0.92. SPS Commerce, Inc. has a 12 month low of $122.58 and a 12 month high of $218.61. The stock’s 50-day moving average is $147.26 and its 200-day moving average is $173.99.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler reduced their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus lowered their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a research note on Wednesday, March 26th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce 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.