Jane Street Group LLC Buys 30,403 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Jane Street Group LLC grew its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 80.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,424 shares of the software maker's stock after purchasing an additional 30,403 shares during the quarter. Jane Street Group LLC owned about 0.18% of SPS Commerce worth $13,286,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in SPS Commerce by 79.0% during the 2nd quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker's stock valued at $1,562,000 after purchasing an additional 3,662 shares during the period. AXA S.A. raised its stake in shares of SPS Commerce by 19.4% during the second quarter. AXA S.A. now owns 29,391 shares of the software maker's stock worth $5,530,000 after buying an additional 4,784 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in SPS Commerce in the third quarter valued at approximately $3,178,000. Hsbc Holdings PLC boosted its stake in SPS Commerce by 448.2% in the second quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker's stock valued at $6,295,000 after acquiring an additional 27,376 shares during the last quarter. Finally, State Street Corp grew its holdings in SPS Commerce by 1.1% during the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker's stock worth $280,398,000 after acquiring an additional 16,357 shares during the period. Institutional investors own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of analyst reports. Robert W. Baird increased their price target on SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, October 28th. Needham & Company LLC restated a "buy" rating and set a $230.00 price objective 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, November 25th. They issued a "neutral" rating and a $198.00 target price on the stock. Finally, Stifel Nicolaus boosted their price target 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. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce presently has an average rating of "Moderate Buy" and an average target price of $220.78.

SPS Commerce Price Performance

Shares of SPS Commerce stock traded up $0.62 on Thursday, hitting $197.60. The company had a trading volume of 48,146 shares, compared to its average volume of 183,907. The stock has a 50-day moving average of $186.83 and a 200-day moving average of $191.17. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74. The firm has a market capitalization of $7.42 billion, a P/E ratio of 94.25 and a beta of 0.86.

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

Insider Buying and Selling

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by corporate 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.