SPS Commerce, Inc. (NASDAQ:SPSC) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 170.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,148 shares of the software maker’s stock after acquiring an additional 5,131 shares during the quarter. Intech Investment Management LLC’s holdings in SPS Commerce were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of SPS Commerce by 9.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,898 shares of the software maker’s stock valued at $16,679,000 after acquiring an additional 7,762 shares during the period. Moran Wealth Management LLC boosted its holdings in shares of SPS Commerce by 38.4% in the third quarter. Moran Wealth Management LLC now owns 2,803 shares of the software maker’s stock valued at $544,000 after acquiring an additional 777 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of SPS Commerce during the third quarter worth $210,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of SPS Commerce by 1,358.3% during the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after purchasing an additional 326 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SPSC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Piper Sandler started coverage on SPS Commerce in a report on Monday. They set a “neutral” rating and a $198.00 price target for the company. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Robert W. Baird increased 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. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and an average price target of $220.78.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction dated 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 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 can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

SPS Commerce Stock Performance

SPS Commerce stock opened at $193.39 on Tuesday. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74. The business has a fifty day moving average of $186.64 and a two-hundred day moving average of $191.26. The company has a market cap of $7.27 billion, a P/E ratio of 92.53 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results 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 business had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same quarter last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. Sell-side analysts predict that SPS Commerce, Inc. will post 2.39 EPS for the current year.

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.