Van ECK Associates Corp Acquires 6,300 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Van ECK Associates Corp lifted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 40.0% during the third quarter, HoldingsChannel reports. The firm owned 22,048 shares of the software maker’s stock after purchasing an additional 6,300 shares during the period. Van ECK Associates Corp’s holdings in SPS Commerce were worth $4,184,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SPSC. Shaker Investments LLC OH grew its stake in SPS Commerce by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock worth $564,000 after acquiring an additional 50 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in SPS Commerce by 4.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock worth $256,000 after purchasing an additional 55 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in SPS Commerce by 2.8% in the third quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock worth $449,000 after purchasing an additional 62 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in SPS Commerce by 1.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker’s stock worth $707,000 after purchasing an additional 67 shares during the period. Finally, Signaturefd LLC raised its position in SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’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 transaction of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

SPS Commerce Trading Down 0.0 %

NASDAQ SPSC opened at $185.23 on Friday. The firm’s fifty day simple moving average is $188.03 and its two-hundred day simple moving average is $190.92. The firm has a market capitalization of $6.96 billion, a P/E ratio of 88.63 and a beta of 0.84. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

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

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of recent research reports. Stifel Nicolaus increased their price target on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. DA Davidson raised their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $205.00 to $209.00 in a report on Monday, July 29th. Finally, Craig Hallum upped their target price on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus 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.