Victory Capital Management Inc. Raises Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Victory Capital Management Inc. increased its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 33.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,424 shares of the software maker's stock after purchasing an additional 4,115 shares during the quarter. Victory Capital Management Inc.'s holdings in SPS Commerce were worth $3,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Entropy Technologies LP lifted its position in SPS Commerce by 71.7% during the 3rd quarter. Entropy Technologies LP now owns 1,916 shares of the software maker's stock valued at $372,000 after acquiring an additional 800 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of SPS Commerce by 9.0% during the third quarter. Los Angeles Capital Management LLC now owns 21,893 shares of the software maker's stock valued at $4,251,000 after purchasing an additional 1,808 shares during the last quarter. Olympiad Research LP lifted its holdings in shares of SPS Commerce by 13.3% during the third quarter. Olympiad Research LP now owns 2,528 shares of the software maker's stock valued at $491,000 after purchasing an additional 297 shares during the last quarter. Angeles Wealth Management LLC bought a new stake in shares of SPS Commerce in the 3rd quarter worth approximately $466,000. Finally, Van ECK Associates Corp grew its stake in shares of SPS Commerce by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 22,048 shares of the software maker's stock worth $4,184,000 after buying an additional 6,300 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

Insider Transactions at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the company's stock in a transaction on 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 in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

SPS Commerce Trading Up 1.5 %

SPSC stock traded up $2.81 on Friday, hitting $189.13. The company had a trading volume of 388,881 shares, compared to its average volume of 261,806. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 90.49 and a beta of 0.84. The stock's 50-day simple moving average is $186.64 and its 200 day simple moving average is $191.26. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. SPS Commerce's revenue was up 20.7% compared to the same quarter last year. Research analysts forecast that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Wall Street Analyst Weigh In

SPSC has been the topic of several analyst reports. Northland Capmk downgraded SPS Commerce from a "strong-buy" rating to a "hold" rating in a report on Monday, July 29th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Robert W. Baird lifted their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Northland Securities cut shares of SPS Commerce from an "outperform" rating to a "market perform" rating and increased their price target for the company from $205.00 to $209.00 in a report on Monday, July 29th. Finally, Stifel Nicolaus boosted their price objective 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. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $223.63.

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.