JPMorgan Chase & Co. Purchases 252,575 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

JPMorgan Chase & Co. raised its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 99.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 507,014 shares of the software maker's stock after acquiring an additional 252,575 shares during the period. JPMorgan Chase & Co. owned 1.35% of SPS Commerce worth $93,286,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SPSC. Cerity Partners LLC increased its holdings in shares of SPS Commerce by 67.2% in the 3rd quarter. Cerity Partners LLC now owns 3,786 shares of the software maker's stock worth $735,000 after acquiring an additional 1,522 shares during the period. FMR LLC grew its position in SPS Commerce by 18.3% in the 3rd 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SPS Commerce by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,631 shares of the software maker's stock valued at $1,676,000 after purchasing an additional 614 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of SPS Commerce by 30.9% during the third quarter. Benjamin Edwards Inc. now owns 2,112 shares of the software maker's stock valued at $410,000 after buying an additional 498 shares during the last quarter. Finally, Holocene Advisors LP boosted its position in shares of SPS Commerce by 322.6% during the third quarter. Holocene Advisors LP now owns 16,171 shares of the software maker's stock worth $3,140,000 after buying an additional 12,344 shares during the period. 98.96% of the stock is owned by institutional investors.

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SPS Commerce Price Performance

Shares of SPSC traded down $4.62 during trading hours on Monday, hitting $123.28. 661,690 shares of the company were exchanged, compared to its average volume of 227,201. The company has a market capitalization of $4.69 billion, a PE ratio of 60.43 and a beta of 0.89. The firm has a fifty day simple moving average of $144.58 and a 200-day simple moving average of $172.76. SPS Commerce, Inc. has a one year low of $121.52 and a one year high of $218.61.

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 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%. Sell-side analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPSC. Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird lowered their price target on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Northland Securities reissued a "market perform" rating and set a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $207.11.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the sale, the executive vice president now directly owns 1,367,584 shares of the company's stock, valued at approximately $202,429,783.68. This represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was 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 of the company's stock, valued at $28,864,006.56. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock valued at $6,613,078 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.