Summitry LLC Acquires New Shares in SPS Commerce, Inc. (NASDAQ:SPSC)

Summitry LLC bought a new position in SPS Commerce, Inc. (NASDAQ:SPSC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,205 shares of the software maker’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after purchasing an additional 100 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of SPS Commerce during the 4th quarter valued at $40,000. Blue Trust Inc. boosted its stake in shares of SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after buying an additional 84 shares during the last quarter. R Squared Ltd bought a new stake in shares of SPS Commerce in the fourth quarter worth $57,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in SPS Commerce during the fourth quarter valued at $57,000. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC opened at $135.00 on Wednesday. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 66.18 and a beta of 0.92. The firm has a fifty day moving average price of $156.37 and a 200 day moving average price of $176.80. SPS Commerce, Inc. has a fifty-two week low of $122.58 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate 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, research analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on SPSC. Piper Sandler cut their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reduced their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus decreased their price target 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. 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, Northland Securities reaffirmed a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Activity at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the transaction, the chief financial officer now owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dan Juckniess sold 2,591 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the sale, the executive vice president now owns 1,367,584 shares of the company’s stock, valued at approximately $202,429,783.68. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,864 shares of company stock valued at $6,613,078. Insiders own 1.00% of the company’s stock.

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.