Lord Abbett & CO. LLC boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 27.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,685 shares of the software maker's stock after purchasing an additional 61,907 shares during the period. Lord Abbett & CO. LLC owned about 0.76% of SPS Commerce worth $55,083,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SPSC. Franklin Resources Inc. increased its position in shares of SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker's stock valued at $84,747,000 after buying an additional 210,284 shares in the last quarter. Synovus Financial Corp acquired a new stake in SPS Commerce in the 3rd quarter valued at about $1,809,000. Tidal Investments LLC increased its holdings in SPS Commerce by 15.8% during the 3rd quarter. Tidal Investments LLC now owns 1,937 shares of the software maker's stock valued at $376,000 after acquiring an additional 265 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in SPS Commerce by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,102 shares of the software maker's stock valued at $587,000 after acquiring an additional 213 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in SPS Commerce by 5.0% during the third quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock worth $237,000 after acquiring an additional 58 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SPSC has been the topic of several research reports. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Robert W. Baird increased their target price on SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Piper Sandler assumed coverage on SPS Commerce in a research report on Monday, November 25th. They set a "neutral" rating and a $198.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.78.
Read Our Latest Stock Report on SPSC
Insider Activity
In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 owns 54,446 shares of the company's stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.
SPS Commerce Stock Down 2.4 %
Shares of NASDAQ SPSC traded down $4.76 during trading on Friday, hitting $192.38. 197,882 shares of the company traded hands, compared to its average volume of 174,024. The firm has a market capitalization of $7.23 billion, a P/E ratio of 92.05 and a beta of 0.86. The company has a 50-day moving average price of $187.10 and a 200-day moving average price of $191.19. 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 quarterly earnings results 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. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts predict that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.
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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