BIT Capital GmbH Invests $780,000 in SPS Commerce, Inc. (NASDAQ:SPSC)

BIT Capital GmbH purchased a new stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,239 shares of the software maker's stock, valued at approximately $780,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPSC. JPMorgan Chase & Co. raised its holdings in shares of SPS Commerce by 99.3% during the fourth quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock valued at $93,286,000 after acquiring an additional 252,575 shares during the last quarter. Summitry LLC purchased a new position in SPS Commerce in the 4th quarter valued at $222,000. Zions Bancorporation N.A. boosted its stake in SPS Commerce by 18.6% during the 4th quarter. Zions Bancorporation N.A. now owns 16,122 shares of the software maker's stock worth $2,966,000 after purchasing an additional 2,531 shares during the last quarter. EFG Asset Management North America Corp. grew its holdings in shares of SPS Commerce by 59.1% during the fourth quarter. EFG Asset Management North America Corp. now owns 19,371 shares of the software maker's stock worth $3,567,000 after buying an additional 7,193 shares in the last quarter. Finally, Summit Creek Advisors LLC grew its holdings in shares of SPS Commerce by 7.9% during the fourth quarter. Summit Creek Advisors LLC now owns 127,150 shares of the software maker's stock worth $23,394,000 after buying an additional 9,293 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Northland Securities restated a "market perform" rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Citigroup dropped their price target on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Robert W. Baird cut their price target on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Piper Sandler lowered their price objective on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a research note on Wednesday, March 26th. Five equities 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 has an average rating of "Moderate Buy" and an average price target of $207.11.

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SPS Commerce Stock Down 1.7 %

SPSC stock traded down $2.31 during mid-day trading on Monday, hitting $131.20. 63,515 shares of the company were exchanged, compared to its average volume of 317,574. The business has a fifty day simple moving average of $152.14 and a 200-day simple moving average of $175.44. The firm has a market capitalization of $4.96 billion, a P/E ratio of 64.29 and a beta of 0.92. SPS Commerce, Inc. has a 12-month low of $122.58 and a 12-month high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Research analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Insider Buying and Selling

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now owns 156,292 shares of the company's stock, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the transaction, the executive vice president now owns 22,570 shares of the company's stock, valued at $4,167,776.20. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,864 shares of company stock valued at $6,613,078. Corporate insiders own 1.00% of the company's stock.

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.