Quantbot Technologies LP Acquires 10,390 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Quantbot Technologies LP raised its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 101.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,674 shares of the software maker’s stock after buying an additional 10,390 shares during the period. Quantbot Technologies LP’s holdings in SPS Commerce were worth $4,014,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPSC. Mather Group LLC. grew its position in SPS Commerce by 800.0% in the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in SPS Commerce in the 2nd quarter valued at $30,000. Blue Trust Inc. grew its position in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Advisors Asset Management Inc. grew its position in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. Finally, DT Investment Partners LLC bought a new position in SPS Commerce in the 2nd quarter valued at $63,000. Institutional investors own 98.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SPSC shares. Robert W. Baird increased their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Piper Sandler started coverage on SPS Commerce in a research report on Monday. They set a “neutral” rating and a $198.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

Insider Transactions at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the firm’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 transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

SPS Commerce Stock Performance

SPS Commerce stock opened at $193.33 on Wednesday. The stock has a 50-day moving average of $186.64 and a two-hundred day moving average of $191.25. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74. The stock has a market cap of $7.26 billion, a PE ratio of 92.50 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $160.30 million. During the same period last year, the business posted $0.53 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts predict that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal 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.