New York State Common Retirement Fund Boosts Position in SPS Commerce, Inc. (NASDAQ:SPSC)

New York State Common Retirement Fund raised its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 50.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 62,284 shares of the software maker's stock after acquiring an additional 20,760 shares during the period. New York State Common Retirement Fund owned approximately 0.17% of SPS Commerce worth $11,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPSC. Creative Planning raised its stake in shares of SPS Commerce by 13.6% in the third quarter. Creative Planning now owns 10,069 shares of the software maker's stock worth $1,955,000 after buying an additional 1,204 shares during the period. Blue Trust Inc. increased its position in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC raised its position in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker's stock valued at $65,000 after buying an additional 69 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of SPS Commerce by 9,418.6% during the 3rd quarter. International Assets Investment Management LLC now owns 9,709 shares of the software maker's stock valued at $1,885,000 after purchasing an additional 9,607 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its position in SPS Commerce by 44.2% during the third quarter. Arkadios Wealth Advisors now owns 5,416 shares of the software maker's stock valued at $1,052,000 after acquiring an additional 1,660 shares during the last quarter. Institutional investors own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

SPSC has been the subject of a number of recent analyst reports. Citigroup lowered their target price 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. Needham & Company LLC lowered their price target on SPS Commerce from $230.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Northland Securities restated a "market perform" rating and set a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Stifel Nicolaus cut their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Piper Sandler dropped their price objective 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average price target of $207.11.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 9,819 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the sale, the executive vice president now directly owns 22,570 shares in the company, valued at approximately $4,167,776.20. The trade was a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the sale, the chief executive officer now directly owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,695 shares of company stock valued at $7,781,086. 1.00% of the stock is owned by company insiders.

SPS Commerce Trading Up 0.9 %

Shares of NASDAQ SPSC traded up $1.16 during midday trading on Friday, reaching $133.20. The company had a trading volume of 379,296 shares, compared to its average volume of 306,860. The stock has a market cap of $5.03 billion, a P/E ratio of 65.29 and a beta of 0.88. SPS Commerce, Inc. has a 1 year low of $131.31 and a 1 year high of $218.61. The business's 50-day simple moving average is $175.15 and its 200 day simple moving average is $184.86.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data 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%. Analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

SPS Commerce Company 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.