Huntington National Bank Has $86,000 Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Huntington National Bank grew its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 63.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 445 shares of the software maker’s stock after buying an additional 172 shares during the period. Huntington National Bank’s holdings in SPS Commerce were worth $86,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in SPS Commerce by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock valued at $803,798,000 after acquiring an additional 58,525 shares during the period. Conestoga Capital Advisors LLC raised its position in shares of 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 purchasing an additional 21,170 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of SPS Commerce by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after buying an additional 12,552 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in shares of SPS Commerce by 0.5% during the 3rd 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. Finally, Bank of New York Mellon Corp grew its stake in SPS Commerce by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 340,419 shares of the software maker’s stock valued at $64,053,000 after buying an additional 22,928 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPSC. Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Robert W. Baird boosted their price target on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Craig Hallum increased their price objective on SPS Commerce from $210.00 to $230.00 and gave the stock 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, October 25th. Finally, Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $223.63.

SPS Commerce Stock Down 0.2 %

Shares of SPS Commerce stock opened at $176.26 on Tuesday. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 84.33 and a beta of 0.84. The firm’s 50-day moving average price is $187.26 and its two-hundred day moving average price is $191.43.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) 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 business had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts expect that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Insider Transactions at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the firm’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 value of $1,160,509.91. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by 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.