Franklin Resources Inc. Raises Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Franklin Resources Inc. increased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 94.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,801 shares of the software maker's stock after acquiring an additional 210,284 shares during the quarter. Franklin Resources Inc. owned approximately 1.15% of SPS Commerce worth $84,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPSC. Synovus Financial Corp purchased a new stake in SPS Commerce during the 3rd quarter valued at approximately $1,809,000. Tidal Investments LLC raised its stake in shares of SPS Commerce by 15.8% during the third quarter. Tidal Investments LLC now owns 1,937 shares of the software maker's stock worth $376,000 after purchasing an additional 265 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of SPS Commerce by 7.4% during the third quarter. Sanctuary Advisors LLC now owns 3,102 shares of the software maker's stock worth $587,000 after purchasing an additional 213 shares during the last quarter. Coldstream Capital Management Inc. grew its position in SPS Commerce by 5.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock valued at $237,000 after buying an additional 58 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in SPS Commerce by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker's stock valued at $182,287,000 after buying an additional 14,174 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 6,839 shares of the business's 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 directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on SPSC shares. Stifel Nicolaus raised their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Piper Sandler began coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a "neutral" rating and a $198.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Finally, Robert W. Baird raised their price target on SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Six 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.78.

SPS Commerce Stock Up 3.3 %

Shares of SPS Commerce stock traded up $6.31 on Monday, hitting $198.69. The company's stock had a trading volume of 183,870 shares, compared to its average volume of 184,388. The company has a market capitalization of $7.46 billion, a P/E ratio of 95.07 and a beta of 0.86. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The firm has a fifty day moving average price of $187.28 and a 200-day moving average price of $191.26.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, analysts expect that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

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.