Norges Bank Makes New Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

Norges Bank bought a new stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 443,191 shares of the software maker's stock, valued at approximately $81,543,000. Norges Bank owned about 1.18% of SPS Commerce at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in SPS Commerce by 209.6% during the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker's stock worth $12,890,000 after acquiring an additional 44,946 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of SPS Commerce by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker's stock worth $88,576,000 after purchasing an additional 16,272 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of SPS Commerce by 2.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker's stock worth $1,047,000 after purchasing an additional 110 shares during the period. Synovus Financial Corp bought a new stake in SPS Commerce in the third quarter valued at about $1,809,000. Finally, JPMorgan Chase & Co. lifted its stake in SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker's stock valued at $49,404,000 after buying an additional 104,210 shares during the period. Institutional investors and hedge funds own 98.96% of the company's stock.

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SPS Commerce Stock Down 3.6 %

Shares of NASDAQ:SPSC traded down $4.62 during midday trading on Monday, reaching $123.28. 661,690 shares of the company were exchanged, compared to its average volume of 227,201. The firm has a market cap of $4.69 billion, a PE ratio of 60.43 and a beta of 0.89. SPS Commerce, Inc. has a fifty-two week low of $121.52 and a fifty-two week high of $218.61. The stock has a fifty day simple moving average of $144.58 and a two-hundred day simple moving average of $172.76.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (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%. As a group, analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPSC has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $210.00 target price on shares of SPS Commerce in a research report on Wednesday, March 26th. Citigroup reduced their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Piper Sandler cut their target price on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, Northland Securities reissued a "market perform" rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.11.

Insider Activity at SPS Commerce

In related news, EVP Dan Juckniess sold 9,819 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the transaction, the executive vice president now owns 22,570 shares of the company's stock, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the business's stock in a transaction dated 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 $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,864 shares of company stock valued at $6,613,078. 1.00% of the stock is owned by insiders.

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.