JPMorgan Chase & Co. Grows Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

JPMorgan Chase & Co. increased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 99.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 507,014 shares of the software maker’s stock after acquiring an additional 252,575 shares during the quarter. JPMorgan Chase & Co.’s holdings in SPS Commerce were worth $93,286,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SPSC. Barclays PLC increased its stake in SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after acquiring an additional 44,946 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of SPS Commerce by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker’s stock worth $88,576,000 after purchasing an additional 16,272 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of SPS Commerce by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker’s stock worth $1,047,000 after purchasing an additional 110 shares during the last quarter. Synovus Financial Corp bought a new position in shares of SPS Commerce in the third quarter worth approximately $1,809,000. Finally, State Street Corp raised its stake in SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after purchasing an additional 16,357 shares in the last quarter. Institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SPSC. Citigroup cut their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Stifel Nicolaus reduced their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird lowered their price target 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. Northland Securities reiterated a “market perform” rating and issued a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.11.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the sale, the chief executive officer now directly owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly K. Nelson sold 4,034 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.17, for a total value of $597,717.78. Following the transaction, the chief financial officer now owns 2,442,968 shares in the company, valued at approximately $361,974,568.56. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock valued at $6,613,078 in the last quarter. Insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of SPSC stock opened at $137.66 on Thursday. The business has a 50-day moving average of $148.62 and a 200 day moving average of $174.30. SPS Commerce, Inc. has a 1-year low of $122.58 and a 1-year high of $218.61. The stock has a market capitalization of $5.20 billion, a PE ratio of 67.48 and a beta of 0.92.

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

SPS Commerce Company 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.