Geneva Capital Management LLC Boosts Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Geneva Capital Management LLC raised its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 581,801 shares of the software maker's stock after buying an additional 138,014 shares during the period. SPS Commerce comprises approximately 1.9% of Geneva Capital Management LLC's investment portfolio, making the stock its 18th biggest position. Geneva Capital Management LLC owned 1.55% of SPS Commerce worth $107,045,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its holdings in SPS Commerce by 209.6% during 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 period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of SPS Commerce during the third quarter worth $3,178,000. Synovus Financial Corp purchased a new stake in shares of SPS Commerce during the third quarter valued at $1,809,000. JPMorgan Chase & Co. boosted its stake in shares of SPS Commerce by 69.4% during the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker's stock valued at $49,404,000 after purchasing an additional 104,210 shares during the period. Finally, State Street Corp grew its holdings 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 purchasing an additional 16,357 shares during the last quarter. Institutional investors own 98.96% of the company's stock.

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Insider Buying and Selling at SPS Commerce

In related news, CEO Chadwick Collins sold 2,840 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the transaction, the chief executive officer now directly owns 5,270,106 shares of the company's stock, valued at $780,608,100.72. This represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dan Juckniess sold 5,831 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares of the company's stock, valued at approximately $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,695 shares of company stock worth $7,781,086 over the last three months. Corporate insiders own 1.00% of the company's stock.

SPS Commerce Trading Down 1.8 %

Shares of SPSC traded down $2.30 during trading hours on Monday, hitting $125.92. The company had a trading volume of 425,647 shares, compared to its average volume of 307,579. The company has a market capitalization of $4.76 billion, a PE ratio of 61.73 and a beta of 0.92. SPS Commerce, Inc. has a one year low of $122.74 and a one year high of $218.61. The company's fifty day moving average price is $168.40 and its two-hundred day moving average price is $182.02.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Northland Securities reissued a "market perform" rating and issued a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Piper Sandler lowered their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reduced their price objective on SPS Commerce from $230.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus decreased their target price on SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, Robert W. Baird dropped their price target on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $207.11.

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.