Headlands Technologies LLC Grows Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Headlands Technologies LLC increased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 121.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,671 shares of the software maker’s stock after purchasing an additional 918 shares during the quarter. Headlands Technologies LLC’s holdings in SPS Commerce were worth $314,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of SPS Commerce by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock valued at $803,798,000 after buying an additional 58,525 shares during the period. Conestoga Capital Advisors LLC raised its position in shares of 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 buying an additional 28,970 shares during the period. Congress Asset Management Co. MA raised its position in shares of SPS Commerce by 1.5% during the 1st quarter. Congress Asset Management Co. MA now owns 843,310 shares of the software maker’s stock valued at $155,928,000 after buying an additional 12,397 shares during the period. William Blair Investment Management LLC raised its position in shares of SPS Commerce by 2.9% during the 1st quarter. William Blair Investment Management LLC now owns 597,662 shares of the software maker’s stock valued at $110,508,000 after buying an additional 17,012 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of SPS Commerce by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 492,802 shares of the software maker’s stock valued at $95,527,000 after buying an additional 7,179 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Up 2.5 %

SPS Commerce stock opened at $192.85 on Friday. SPS Commerce, Inc. has a twelve month low of $151.96 and a twelve month high of $218.74. The stock’s fifty day simple moving average is $197.43 and its 200-day simple moving average is $188.35. The firm has a market capitalization of $7.15 billion, a P/E ratio of 105.38 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The business had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts predict that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

Analysts Set New Price Targets

SPSC has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $205.00 to $209.00 in a research report on Monday, July 29th. DA Davidson boosted their target price on SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research report on Friday, August 2nd. Finally, Craig Hallum boosted their target price on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $220.25.

Insider Transactions at SPS Commerce

In related news, Director Philip Soran sold 3,285 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.06, for a total transaction of $657,197.10. Following the completion of the transaction, the director now owns 18,852 shares in the company, valued at $3,771,531.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Philip Soran sold 3,285 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the transaction, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,675 shares of company stock valued at $1,551,735. 1.00% of the stock is currently owned by company insiders.

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.