Raymond James Financial Inc. Acquires New Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Raymond James Financial Inc. acquired a new stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 149,145 shares of the software maker's stock, valued at approximately $27,441,000. Raymond James Financial Inc. owned 0.40% of SPS Commerce at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after buying an additional 100 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce in the 4th quarter worth approximately $40,000. Blue Trust Inc. lifted its position in shares of SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after purchasing an additional 84 shares during the period. R Squared Ltd purchased a new stake in shares of SPS Commerce in the 4th quarter worth approximately $57,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of SPS Commerce in the 4th quarter worth approximately $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC traded down $0.30 during midday trading on Tuesday, hitting $128.61. The company's stock had a trading volume of 286,519 shares, compared to its average volume of 207,071. The business's 50 day simple moving average is $162.61 and its 200 day simple moving average is $179.53. The company has a market cap of $4.86 billion, a P/E ratio of 63.04 and a beta of 0.92. SPS Commerce, Inc. has a 12-month low of $122.58 and a 12-month high of $218.61.

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SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. On average, sell-side analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Robert W. Baird lowered their price target on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Northland Securities reaffirmed a "market perform" rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Stifel Nicolaus lowered their price target on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC lowered their price target on shares of SPS Commerce from $230.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, Citigroup decreased 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 report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.11.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 9,819 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were 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. 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 link. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now owns 156,292 shares of the company's stock, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,695 shares of company stock worth $7,781,086. Insiders own 1.00% of the company's stock.

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.