Summit Creek Advisors LLC Has $23.39 Million Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Summit Creek Advisors LLC grew its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,150 shares of the software maker's stock after purchasing an additional 9,293 shares during the period. SPS Commerce comprises about 3.1% of Summit Creek Advisors LLC's holdings, making the stock its 7th largest position. Summit Creek Advisors LLC owned approximately 0.34% of SPS Commerce worth $23,394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in SPS Commerce by 33.4% during the third quarter. Victory Capital Management Inc. now owns 16,424 shares of the software maker's stock valued at $3,189,000 after acquiring an additional 4,115 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of SPS Commerce by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker's stock worth $3,820,000 after purchasing an additional 54 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker's stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of SPS Commerce in the 3rd quarter valued at $210,000. Finally, Advisors Asset Management Inc. boosted its holdings in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock worth $34,000 after purchasing an additional 100 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPSC. Needham & Company LLC lowered their price objective on SPS Commerce from $230.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus dropped their target price on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Northland Securities restated a "market perform" rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Finally, Piper Sandler decreased their target price on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce currently has an average rating of "Moderate Buy" and an average target price of $207.11.

SPS Commerce Stock Performance

SPS Commerce stock traded down $0.31 on Tuesday, reaching $135.00. The company's stock had a trading volume of 410,084 shares, compared to its average volume of 211,899. SPS Commerce, Inc. has a twelve month low of $122.58 and a twelve month high of $218.61. The business's fifty day moving average price is $156.37 and its 200 day moving average price is $176.80. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 66.18 and a beta of 0.92.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. As a group, equities analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 2,840 shares of the company's stock in a transaction 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 owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. The trade was a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was 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 in the company, valued at $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock worth $6,613,078 over the last 90 days. Insiders own 1.00% of the company's stock.

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.