Arrowstreet Capital Limited Partnership Raises Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Arrowstreet Capital Limited Partnership boosted its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 24.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,276 shares of the software maker's stock after buying an additional 18,620 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.25% of SPS Commerce worth $17,530,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Level Four Advisory Services LLC raised its holdings in SPS Commerce by 14.2% in the fourth quarter. Level Four Advisory Services LLC now owns 6,101 shares of the software maker's stock worth $1,123,000 after purchasing an additional 758 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in SPS Commerce by 260.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 37,575 shares of the software maker's stock valued at $6,913,000 after purchasing an additional 27,164 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of SPS Commerce during the 4th quarter valued at $387,000. Norges Bank bought a new position in SPS Commerce in the fourth quarter valued at about $81,543,000. Finally, Amica Retiree Medical Trust boosted its holdings in shares of SPS Commerce by 19.4% in the fourth quarter. Amica Retiree Medical Trust now owns 518 shares of the software maker's stock worth $95,000 after buying an additional 84 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

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Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the transaction, the chief financial officer now owns 156,292 shares of the company's stock, valued at $28,864,006.56. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chadwick Collins sold 2,840 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the sale, the chief executive officer now directly owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $6,613,078 in the last ninety days. 1.00% of the stock is owned by insiders.

SPS Commerce Stock Up 11.7 %

Shares of NASDAQ:SPSC traded up $14.23 during trading on Wednesday, reaching $135.84. 491,141 shares of the company's stock traded hands, compared to its average volume of 230,284. The firm has a market cap of $5.17 billion, a PE ratio of 66.59 and a beta of 0.89. SPS Commerce, Inc. has a fifty-two week low of $120.09 and a fifty-two week high of $218.61. The company has a 50-day simple moving average of $139.84 and a 200-day simple moving average of $171.22.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its 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 net margin of 12.08% and a return on equity of 12.27%. On average, equities research analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on SPSC. Citigroup decreased their target price on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Robert W. Baird decreased their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Piper Sandler cut their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reissued a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a report on Wednesday, March 26th. Finally, Northland Securities reaffirmed a "market perform" rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average price target of $207.11.

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.