Huntington National Bank Increases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Huntington National Bank raised its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 68.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 748 shares of the software maker’s stock after acquiring an additional 303 shares during the quarter. Huntington National Bank’s holdings in SPS Commerce were worth $138,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SPSC. Cerity Partners LLC grew its stake in SPS Commerce by 67.2% during the 3rd quarter. Cerity Partners LLC now owns 3,786 shares of the software maker’s stock worth $735,000 after purchasing an additional 1,522 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of SPS Commerce by 30.9% during the third quarter. Benjamin Edwards Inc. now owns 2,112 shares of the software maker’s stock worth $410,000 after buying an additional 498 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of SPS Commerce during the third quarter worth approximately $265,000. Janus Henderson Group PLC raised its holdings in SPS Commerce by 4.3% in the third quarter. Janus Henderson Group PLC now owns 44,767 shares of the software maker’s stock valued at $8,690,000 after acquiring an additional 1,858 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in SPS Commerce by 8.3% in the third quarter. Quantinno Capital Management LP now owns 1,925 shares of the software maker’s stock worth $374,000 after acquiring an additional 148 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SPSC shares. Piper Sandler reduced their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Citigroup decreased their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a research report on Wednesday, March 26th. Northland Securities restated a “market perform” rating and set a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Finally, Robert W. Baird dropped their price target on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Stock Down 1.3 %

SPSC opened at $127.90 on Friday. SPS Commerce, Inc. has a 52 week low of $121.52 and a 52 week high of $218.61. The business’s 50 day moving average is $145.99 and its two-hundred day moving average is $173.40. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 62.70 and a beta of 0.92.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Monday, February 10th. The software maker reported $0.66 EPS 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%. Equities analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insider Activity

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the sale, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This represents a 30.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 4,034 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.17, for a total value of $597,717.78. Following the completion of the transaction, the chief financial officer now owns 2,442,968 shares in the company, valued at $361,974,568.56. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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.