HighTower Advisors LLC Raises Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

HighTower Advisors LLC boosted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 157.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,161 shares of the software maker's stock after buying an additional 12,933 shares during the period. HighTower Advisors LLC owned approximately 0.06% of SPS Commerce worth $3,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SPSC. Franklin Resources Inc. grew its stake in shares of SPS Commerce by 94.5% during the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker's stock valued at $84,747,000 after buying an additional 210,284 shares during the last quarter. Raymond James Financial Inc. bought a new position in SPS Commerce in the 4th quarter valued at $27,441,000. Geneva Capital Management LLC grew its position in SPS Commerce by 31.1% in the 4th quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker's stock valued at $107,045,000 after acquiring an additional 138,014 shares during the last quarter. FMR LLC increased its stake in SPS Commerce by 18.3% in the third quarter. FMR LLC now owns 677,145 shares of the software maker's stock worth $131,481,000 after purchasing an additional 104,769 shares during the period. Finally, JPMorgan Chase & Co. lifted its position 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 worth $49,404,000 after purchasing an additional 104,210 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC cut their price target on shares of SPS Commerce from $230.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Citigroup decreased their price target on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Stifel Nicolaus dropped their price objective on SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird reduced their price objective on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, SPS Commerce currently has an average rating of "Moderate Buy" and an average price target of $207.11.

Insider Buying and Selling at SPS Commerce

In related news, EVP Dan Juckniess sold 9,819 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the transaction, the executive vice president now directly owns 22,570 shares of the company's stock, valued at $4,167,776.20. This represents a 30.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the sale, the chief financial officer now owns 156,292 shares in the company, valued at approximately $28,864,006.56. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,864 shares of company stock worth $6,613,078. 1.00% of the stock is owned by insiders.

SPS Commerce Price Performance

Shares of SPSC stock traded up $5.18 during mid-day trading on Monday, hitting $135.31. 322,387 shares of the stock traded hands, compared to its average volume of 211,532. SPS Commerce, Inc. has a 52-week low of $122.58 and a 52-week high of $218.61. The stock has a market cap of $5.11 billion, a P/E ratio of 66.33 and a beta of 0.92. The stock's fifty day moving average is $157.25 and its two-hundred day moving average is $177.17.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced 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%. As a group, equities analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

SPS Commerce 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.