Fmr LLC Increases Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

FMR LLC lifted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 677,145 shares of the software maker's stock after acquiring an additional 104,769 shares during the period. FMR LLC owned 1.80% of SPS Commerce worth $131,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. raised its holdings in shares of SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker's stock worth $27,000 after acquiring an additional 128 shares during the period. Opal Wealth Advisors LLC purchased a new stake in SPS Commerce in the 2nd quarter valued at about $30,000. Blue Trust Inc. raised its holdings in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. raised its holdings in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after buying an additional 100 shares during the period. Finally, DT Investment Partners LLC purchased a new stake in SPS Commerce in the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Price Performance

Shares of SPS Commerce stock traded up $3.41 on Wednesday, reaching $195.08. 167,289 shares of the company were exchanged, compared to its average volume of 185,415. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The company has a market cap of $7.33 billion, a P/E ratio of 93.34 and a beta of 0.86. The stock's 50 day moving average price is $186.54 and its 200-day moving average price is $191.17.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SPSC shares. Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, October 28th. 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 report on Friday, October 25th. Piper Sandler started coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a "neutral" rating and a $198.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $230.00 price target on shares of SPS Commerce 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.78.

Insider Activity at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the company'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 value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares of the company's stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.