Canada Pension Plan Investment Board Grows Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Canada Pension Plan Investment Board boosted its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 92.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,500 shares of the software maker's stock after buying an additional 12,700 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of SPS Commerce worth $4,876,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SPSC. Marshall Wace LLP bought a new position in shares of SPS Commerce in the 4th quarter worth $2,441,000. Zacks Investment Management increased its position in shares of SPS Commerce by 75.4% during the fourth quarter. Zacks Investment Management now owns 15,869 shares of the software maker's stock worth $2,920,000 after acquiring an additional 6,822 shares in the last quarter. Jump Financial LLC raised its holdings in shares of SPS Commerce by 383.2% during the fourth quarter. Jump Financial LLC now owns 19,047 shares of the software maker's stock worth $3,504,000 after acquiring an additional 15,105 shares during the period. Defined Financial Planning LLC acquired a new position in shares of SPS Commerce during the fourth quarter worth about $210,000. Finally, Barclays PLC lifted its position in shares of SPS Commerce by 4.2% in the fourth quarter. Barclays PLC now owns 69,192 shares of the software maker's stock worth $12,730,000 after purchasing an additional 2,805 shares in the last quarter. Institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Performance

NASDAQ SPSC traded down $1.22 during trading hours on Friday, hitting $137.81. The company had a trading volume of 644,911 shares, compared to its average volume of 236,392. SPS Commerce, Inc. has a 52 week low of $120.09 and a 52 week high of $218.61. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 67.55 and a beta of 0.89. The firm has a 50 day simple moving average of $131.91 and a 200 day simple moving average of $166.41.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.15. The business had revenue of $181.55 million during the quarter, compared to analyst estimates of $179.57 million. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Insider Activity at SPS Commerce

In other news, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the transaction, the chief financial officer now owns 156,292 shares of the company's stock, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,864 shares of company stock valued at $6,613,078. Corporate insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

SPSC has been the subject of a number of research reports. Robert W. Baird raised their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research note on Friday. Piper Sandler cut their price target on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus dropped their price objective on SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Northland Securities reissued 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $210.00 target price on shares of SPS Commerce in a report on Friday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, SPS Commerce has a consensus rating of "Moderate Buy" and an average target price of $198.11.

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.