Citigroup Inc. increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 56.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 54,451 shares of the software maker's stock after buying an additional 19,618 shares during the quarter. Citigroup Inc. owned 0.14% of SPS Commerce worth $10,573,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in SPS Commerce in the first quarter worth $329,000. Janus Henderson Group PLC lifted its position in shares of SPS Commerce by 1.7% during the first quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker's stock worth $9,117,000 after acquiring an additional 813 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of SPS Commerce in the first quarter worth $465,000. Moody National Bank Trust Division grew its position in shares of SPS Commerce by 4.8% in the second quarter. Moody National Bank Trust Division now owns 14,255 shares of the software maker's stock valued at $2,682,000 after purchasing an additional 650 shares in the last quarter. Finally, Mather Group LLC. grew its position in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker's stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 98.96% of the company's stock.
SPS Commerce Stock Up 0.3 %
Shares of NASDAQ SPSC traded up $0.50 during mid-day trading on Friday, reaching $193.07. 82,215 shares of the company were exchanged, compared to its average volume of 185,990. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74. The company's 50 day moving average price is $186.60 and its 200 day moving average price is $191.28. The stock has a market capitalization of $7.25 billion, a PE ratio of 92.38 and a beta of 0.84.
SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to analysts' expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. On average, sell-side analysts predict that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.
Analyst Ratings Changes
SPSC has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Stifel Nicolaus boosted their price objective 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. Robert W. Baird upped their target price 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. Finally, Piper Sandler began coverage on shares of SPS Commerce in a report on Monday. They issued a "neutral" rating and a $198.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $220.78.
Read Our Latest Stock Analysis on SPSC
About SPS Commerce
(
Free Report)
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.
Read More
Before you consider SPS Commerce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SPS Commerce wasn't on the list.
While SPS Commerce currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
