Intech Investment Management LLC Boosts Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Intech Investment Management LLC raised its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 170.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,148 shares of the software maker’s stock after buying an additional 5,131 shares during the quarter. Intech Investment Management LLC’s holdings in SPS Commerce were worth $1,582,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPSC. Public Employees Retirement Association of Colorado lifted its position in SPS Commerce by 2,099.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after buying an additional 92,381 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in SPS Commerce by 662.8% in the second quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock valued at $17,065,000 after buying an additional 78,805 shares during the last quarter. F M Investments LLC acquired a new position in SPS Commerce in the second quarter valued at about $13,869,000. Hantz Financial Services Inc. acquired a new position in SPS Commerce in the second quarter valued at about $12,876,000. Finally, Conestoga Capital Advisors LLC lifted its position in SPS Commerce by 2.4% in the second quarter. Conestoga Capital Advisors LLC now owns 1,227,411 shares of the software maker’s stock valued at $230,950,000 after buying an additional 28,970 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analyst Ratings Changes

SPSC has been the topic of several research reports. Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday. They set a “neutral” rating and a $198.00 price target on the stock. Robert W. Baird increased their price target on shares of 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. Stifel Nicolaus increased their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Six 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

SPS Commerce Stock Performance

SPSC stock opened at $193.39 on Tuesday. The company’s 50 day moving average price is $186.64 and its 200 day moving average price is $191.26. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 92.53 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Equities analysts forecast 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.