Quadrature Capital Ltd Acquires New Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Quadrature Capital Ltd acquired a new stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,318 shares of the software maker's stock, valued at approximately $644,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPSC. FMR LLC grew its holdings in SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker's stock valued at $131,481,000 after purchasing an additional 104,769 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of SPS Commerce by 2,099.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker's stock valued at $18,211,000 after acquiring an additional 92,381 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of SPS Commerce in the third quarter worth about $17,128,000. Assenagon Asset Management S.A. lifted its stake in shares of SPS Commerce by 662.8% in the second quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker's stock worth $17,065,000 after acquiring an additional 78,805 shares in the last quarter. Finally, F M Investments LLC purchased a new position in SPS Commerce in the second quarter valued at about $13,869,000. Institutional investors and hedge funds own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

SPS Commerce Stock Up 1.7 %

NASDAQ SPSC traded up $3.22 during trading hours on Monday, hitting $196.01. The company had a trading volume of 164,199 shares, compared to its average volume of 184,873. The firm has a market cap of $7.36 billion, a P/E ratio of 92.24 and a beta of 0.86. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The business has a fifty day simple moving average of $186.52 and a 200-day simple moving average of $191.08.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $163.69 million for the quarter, compared to analysts' expectations of $160.30 million. During the same quarter last year, the company earned $0.53 EPS. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts forecast that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

SPS Commerce 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.