Synovus Financial Corp Purchases Shares of 9,315 SPS Commerce, Inc. (NASDAQ:SPSC)

Synovus Financial Corp acquired a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,315 shares of the software maker's stock, valued at approximately $1,809,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. increased its stake in SPS Commerce by 140.8% in 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. Advisors Asset Management Inc. raised its stake in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock worth $34,000 after acquiring an additional 100 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of SPS Commerce in the 2nd quarter valued at $63,000. Signaturefd LLC increased its position in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker's stock worth $65,000 after purchasing an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker's stock valued at $68,000 after purchasing an additional 326 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Trading Up 3.3 %

Shares of NASDAQ:SPSC traded up $6.31 during mid-day trading on Monday, reaching $198.69. The stock had a trading volume of 183,870 shares, compared to its average volume of 184,388. The firm has a 50 day simple moving average of $187.28 and a two-hundred day simple moving average of $191.26. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74. The firm has a market cap of $7.46 billion, a PE ratio of 95.07 and a beta of 0.86.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business had revenue of $163.69 million during the quarter, compared to analysts' expectations of $160.30 million. During the same quarter in the prior year, the company earned $0.53 EPS. The firm's quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts anticipate that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 6,839 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares of the company's stock, 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 document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SPSC has been the topic of several recent analyst reports. Piper Sandler started coverage on SPS Commerce in a report on Monday, November 25th. They issued a "neutral" rating and a $198.00 target price on the stock. Robert W. Baird increased their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Finally, Stifel Nicolaus increased their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $220.78.

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.