Quest Partners LLC Has $2.34 Million Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Quest Partners LLC raised its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 85.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,028 shares of the software maker’s stock after buying an additional 5,553 shares during the period. Quest Partners LLC’s holdings in SPS Commerce were worth $2,335,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its position in SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of SPS Commerce during the second quarter worth $30,000. Blue Trust Inc. lifted its holdings in shares of SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. DT Investment Partners LLC acquired a new position in shares of SPS Commerce during the second quarter worth $63,000. Finally, Signaturefd LLC lifted its holdings in shares of SPS Commerce by 26.0% during the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Stock Down 1.8 %

SPSC stock opened at $176.59 on Monday. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 84.49 and a beta of 0.84. The company’s fifty day simple moving average is $187.26 and its 200 day simple moving average is $191.43.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. Research analysts expect that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPSC. Northland Capmk lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Robert W. Baird lifted their price target 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. Stifel Nicolaus lifted 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. Finally, DA Davidson lifted their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $223.63.

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 shares were sold at an average price of $169.69, for a total transaction 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 $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

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.