JPMorgan Chase & Co. Acquires 104,210 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

JPMorgan Chase & Co. increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 69.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 254,439 shares of the software maker's stock after buying an additional 104,210 shares during the period. JPMorgan Chase & Co. owned 0.68% of SPS Commerce worth $49,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of SPS Commerce by 10.3% in the second quarter. Commonwealth Equity Services LLC now owns 2,493 shares of the software maker's stock worth $469,000 after acquiring an additional 232 shares during the last quarter. Rhumbline Advisers increased its stake in SPS Commerce by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 107,052 shares of the software maker's stock valued at $20,143,000 after purchasing an additional 671 shares in the last quarter. Victory Capital Management Inc. increased its stake in SPS Commerce by 7.4% during the 2nd quarter. Victory Capital Management Inc. now owns 12,309 shares of the software maker's stock valued at $2,316,000 after purchasing an additional 848 shares in the last quarter. Arizona State Retirement System raised its holdings in SPS Commerce by 2.9% in the second quarter. Arizona State Retirement System now owns 10,382 shares of the software maker's stock worth $1,953,000 after buying an additional 297 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of SPS Commerce by 7.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the software maker's stock worth $226,000 after buying an additional 83 shares in the last quarter. Institutional investors own 98.96% of the company's stock.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPSC. Stifel Nicolaus reduced their price target on shares of SPS Commerce from $250.00 to $225.00 and set a "buy" rating for the company in a research report on Friday. Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They issued a "neutral" rating and a $198.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday. Finally, Robert W. Baird boosted their target price on SPS Commerce from $186.00 to $188.00 and gave the stock 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $218.00.

SPS Commerce Price Performance

Shares of SPSC traded up $4.04 on Friday, reaching $186.85. The company's stock had a trading volume of 193,221 shares, compared to its average volume of 163,111. The stock's 50 day simple moving average is $186.00 and its two-hundred day simple moving average is $191.45. The stock has a market capitalization of $7.02 billion, a P/E ratio of 89.40 and a beta of 0.88. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The business 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 revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Analysts expect that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

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.