Intech Investment Management LLC Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Intech Investment Management LLC lifted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 170.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,148 shares of the software maker's stock after purchasing an additional 5,131 shares during the period. Intech Investment Management LLC's holdings in SPS Commerce were worth $1,582,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SPSC. Public Employees Retirement Association of Colorado lifted its position in SPS Commerce by 2,099.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker's stock valued at $18,211,000 after acquiring an additional 92,381 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in SPS Commerce by 662.8% during the second quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker's stock valued at $17,065,000 after acquiring an additional 78,805 shares during the last quarter. F M Investments LLC purchased a new stake in SPS Commerce during the second quarter valued at approximately $13,869,000. Hantz Financial Services Inc. purchased a new position in shares of SPS Commerce in the second quarter worth $12,876,000. Finally, Conestoga Capital Advisors LLC raised its holdings in shares of SPS Commerce by 2.4% in the second quarter. Conestoga Capital Advisors LLC now owns 1,227,411 shares of the software maker's stock worth $230,950,000 after buying an additional 28,970 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Down 0.0 %

Shares of NASDAQ:SPSC traded down $0.06 during midday trading on Tuesday, reaching $193.33. The company's stock had a trading volume of 172,000 shares, compared to its average volume of 186,559. The firm has a market capitalization of $7.26 billion, a PE ratio of 92.14 and a beta of 0.84. The stock has a fifty day moving average of $186.64 and a 200 day moving average of $191.25. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. The company had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm's revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Sell-side analysts anticipate that SPS Commerce, Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPSC. Northland Capmk cut shares of SPS Commerce from a "strong-buy" rating to a "hold" rating in a report on Monday, July 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. 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. Northland Securities cut shares of SPS Commerce from an "outperform" rating to a "market perform" rating and raised their price target for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Finally, Robert W. Baird raised their price target 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. 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 data from MarketBeat.com, SPS Commerce has an average rating of "Moderate Buy" and a consensus target price of $220.78.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares of the company's stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

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.