State Street Corp Grows Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

State Street Corp raised its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,444,083 shares of the software maker's stock after buying an additional 16,357 shares during the quarter. State Street Corp owned about 3.84% of SPS Commerce worth $280,398,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC grew its position in shares of SPS Commerce by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker's stock valued at $242,437,000 after purchasing an additional 21,170 shares in the last quarter. FMR LLC boosted its stake in SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker's stock worth $131,481,000 after buying an additional 104,769 shares during the last quarter. Dimensional Fund Advisors LP increased its position in SPS Commerce by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker's stock worth $93,583,000 after purchasing an additional 12,552 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in SPS Commerce by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker's stock worth $90,317,000 after purchasing an additional 8,186 shares during the period. Finally, Geneva Capital Management LLC boosted its holdings in SPS Commerce by 0.5% in the 3rd quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker's stock valued at $86,170,000 after purchasing an additional 1,994 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They set a "neutral" rating and a $198.00 price target for the company. Finally, Robert W. Baird boosted their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $220.78.

Insider Transactions at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was 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 of the company's stock, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

SPS Commerce Trading Down 0.5 %

Shares of SPSC stock traded down $0.91 on Wednesday, reaching $196.98. 131,192 shares of the stock were exchanged, compared to its average volume of 184,490. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 95.14 and a beta of 0.86. The business's 50 day moving average price is $186.68 and its 200 day moving average price is $191.13.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. Equities research analysts forecast 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.