Icon Wealth Advisors LLC raised its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 2,362.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,056 shares of the software maker's stock after purchasing an additional 40,348 shares during the quarter. Icon Wealth Advisors LLC owned 0.11% of SPS Commerce worth $8,166,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in SPSC. Vanguard Group Inc. raised its position in shares of SPS Commerce by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker's stock worth $803,798,000 after acquiring an additional 58,525 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of SPS Commerce by 24.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,877 shares of the software maker's stock valued at $717,000 after purchasing an additional 769 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of SPS Commerce by 11.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,875 shares of the software maker's stock valued at $6,062,000 after purchasing an additional 3,340 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SPS Commerce during the first quarter worth $329,000. Finally, BOKF NA raised its stake in SPS Commerce by 89.8% during the first quarter. BOKF NA now owns 1,682 shares of the software maker's stock worth $310,000 after buying an additional 796 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.
SPS Commerce Stock Performance
SPSC traded up $2.81 during mid-day trading on Friday, reaching $189.13. 388,881 shares of the stock were exchanged, compared to its average volume of 261,806. The company has a 50 day moving average price of $186.64 and a two-hundred day moving average price of $191.24. The stock has a market capitalization of $7.11 billion, a PE ratio of 90.49 and a beta of 0.84. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74.
SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analysts' expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. Sell-side analysts expect that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.
Analysts Set New Price Targets
SPSC has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Northland Capmk downgraded shares of SPS Commerce from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 29th. Northland Securities lowered shares of SPS Commerce from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $205.00 to $209.00 in a report on Monday, July 29th. Craig Hallum raised their target price on SPS Commerce from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, Robert W. Baird upped their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $223.63.
Check Out Our Latest Stock Analysis on SPS Commerce
Insider Activity at SPS Commerce
In other news, CEO Chadwick Collins sold 6,839 shares of the company'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 transaction, the chief executive officer now owns 54,446 shares of the company's stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.
About SPS Commerce
(
Free Report)
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.
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