Tidal Investments LLC Acquires 265 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Tidal Investments LLC boosted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,937 shares of the software maker’s stock after purchasing an additional 265 shares during the period. Tidal Investments LLC’s holdings in SPS Commerce were worth $376,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after acquiring an additional 44,946 shares during the last quarter. AXA S.A. lifted its position in SPS Commerce by 19.4% in the second quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock valued at $5,530,000 after purchasing an additional 4,784 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of SPS Commerce during the third quarter valued at approximately $3,178,000. Hsbc Holdings PLC boosted its stake in shares of SPS Commerce by 448.2% during the second quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock valued at $6,295,000 after purchasing an additional 27,376 shares during the period. Finally, State Street Corp increased its stake in shares of SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after buying an additional 16,357 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target for the company. Stifel Nicolaus raised their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.78.

Insider Activity at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the 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 in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the transaction, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

SPS Commerce Trading Down 1.1 %

SPSC opened at $186.16 on Tuesday. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 89.07 and a beta of 0.86. The stock has a fifty day simple moving average of $186.77 and a two-hundred day simple moving average of $191.38. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. SPS Commerce’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, analysts predict that SPS Commerce, Inc. will post 2.38 EPS for the current year.

SPS Commerce 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.