Public Employees Retirement System of Ohio Buys 11,985 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Public Employees Retirement System of Ohio boosted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 15,980.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,060 shares of the software maker's stock after purchasing an additional 11,985 shares during the quarter. Public Employees Retirement System of Ohio's holdings in SPS Commerce were worth $2,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MML Investors Services LLC boosted its holdings in shares of SPS Commerce by 4.1% during the 3rd quarter. MML Investors Services LLC now owns 9,450 shares of the software maker's stock worth $1,835,000 after buying an additional 368 shares during the period. Zacks Investment Management boosted its holdings in SPS Commerce by 7.6% during the third quarter. Zacks Investment Management now owns 9,047 shares of the software maker's stock valued at $1,757,000 after acquiring an additional 637 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of SPS Commerce in the third quarter valued at about $271,000. DF Dent & Co. Inc. increased its stake in shares of SPS Commerce by 65.2% in the third quarter. DF Dent & Co. Inc. now owns 126,891 shares of the software maker's stock worth $24,638,000 after purchasing an additional 50,103 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of SPS Commerce by 80.0% during the 3rd quarter. Jane Street Group LLC now owns 68,424 shares of the software maker's stock worth $13,286,000 after purchasing an additional 30,403 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 6,839 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.

SPS Commerce Trading Up 0.1 %

Shares of SPSC opened at $198.81 on Wednesday. The stock has a market cap of $7.47 billion, a PE ratio of 95.12 and a beta of 0.86. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74. The stock has a 50 day simple moving average of $187.28 and a 200-day simple moving average of $191.26.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. The company had revenue of $163.69 million during the quarter, compared to analysts' expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business's revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

SPSC has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Stifel Nicolaus upped their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Piper Sandler began coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a "neutral" rating and a $198.00 price target on the stock. Finally, Robert W. Baird upped their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $220.78.

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.