First Trust Direct Indexing L.P. Increases Position in SPS Commerce, Inc. (NASDAQ:SPSC)

First Trust Direct Indexing L.P. lifted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,312 shares of the software maker’s stock after purchasing an additional 62 shares during the period. First Trust Direct Indexing L.P.’s holdings in SPS Commerce were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SPSC. Van ECK Associates Corp raised its stake in shares of SPS Commerce by 36.5% in the first quarter. Van ECK Associates Corp now owns 13,228 shares of the software maker’s stock valued at $2,446,000 after acquiring an additional 3,538 shares in the last quarter. BNP Paribas Financial Markets raised its stake in SPS Commerce by 15.9% in the first quarter. BNP Paribas Financial Markets now owns 38,749 shares of the software maker’s stock valued at $7,165,000 after buying an additional 5,306 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in SPS Commerce by 18.7% in the first quarter. Janney Montgomery Scott LLC now owns 2,388 shares of the software maker’s stock valued at $442,000 after buying an additional 377 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in SPS Commerce in the first quarter valued at $60,000. Finally, Whittier Trust Co. raised its stake in SPS Commerce by 4.0% in the first quarter. Whittier Trust Co. now owns 21,788 shares of the software maker’s stock valued at $4,028,000 after buying an additional 848 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the sale, the director now owns 16,212 shares of the company’s stock, valued at approximately $3,264,286.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

SPS Commerce Trading Up 0.9 %

Shares of SPSC opened at $166.47 on Monday. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74. The stock’s 50 day moving average is $189.97 and its two-hundred day moving average is $190.62. The firm has a market capitalization of $6.25 billion, a PE ratio of 79.65 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, sell-side analysts predict that SPS Commerce, Inc. will post 2.39 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on SPSC shares. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Craig Hallum raised their price objective on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus raised their price objective on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird raised their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.63.

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.