Victory Capital Management Inc. Buys 4,115 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Victory Capital Management Inc. increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 33.4% during the third quarter, Holdings Channel.com reports. The firm owned 16,424 shares of the software maker’s stock after purchasing an additional 4,115 shares during the quarter. Victory Capital Management Inc.’s holdings in SPS Commerce were worth $3,189,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SPSC. Mather Group LLC. raised its holdings in SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after acquiring an additional 128 shares during the period. Opal Wealth Advisors LLC bought a new stake in SPS Commerce during the second quarter valued at about $30,000. Blue Trust Inc. raised its holdings in SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the period. DT Investment Partners LLC bought a new stake in SPS Commerce during the second quarter valued at about $63,000. Finally, Signaturefd LLC raised its holdings in SPS Commerce by 26.0% during the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after acquiring an additional 69 shares during the period. 98.96% of the stock is owned by institutional investors.

SPS Commerce Trading Up 1.5 %

SPSC opened at $189.13 on Friday. The firm has a market cap of $7.11 billion, a P/E ratio of 90.49 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. The stock has a 50-day moving average of $186.64 and a 200 day moving average of $191.24.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The company had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. On average, research analysts forecast that SPS Commerce, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Buying and Selling 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 stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPSC. Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and raised their price target for the company from $205.00 to $209.00 in a report on Monday, July 29th. Robert W. Baird raised their price target on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Stifel Nicolaus raised their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $223.63.

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.