Comerica Bank boosted its holdings in SPS Commerce (NASDAQ:SPSC) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,012 shares of the software maker’s stock after purchasing an additional 3,171 shares during the period. Comerica Bank’s holdings in SPS Commerce were worth $1,775,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of SPSC. Tensile Capital Management LLC purchased a new position in SPS Commerce in the fourth quarter worth $13,875,000. Citadel Advisors LLC boosted its position in SPS Commerce by 440.2% in the fourth quarter. Citadel Advisors LLC now owns 257,541 shares of the software maker’s stock worth $12,514,000 after purchasing an additional 209,865 shares during the last quarter. Wells Fargo & Company MN boosted its position in SPS Commerce by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 484,882 shares of the software maker’s stock worth $23,561,000 after purchasing an additional 174,924 shares during the last quarter. Renaissance Technologies LLC boosted its position in SPS Commerce by 132.5% in the fourth quarter. Renaissance Technologies LLC now owns 284,400 shares of the software maker’s stock worth $13,819,000 after purchasing an additional 162,100 shares during the last quarter. Finally, Millennium Management LLC boosted its position in SPS Commerce by 39.9% in the fourth quarter. Millennium Management LLC now owns 353,420 shares of the software maker’s stock worth $17,173,000 after purchasing an additional 100,878 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.
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Several research analysts have weighed in on the company. BidaskClub cut SPS Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. ValuEngine raised SPS Commerce from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. JMP Securities boosted their price objective on SPS Commerce from $68.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Friday, April 27th. Canaccord Genuity reaffirmed a “hold” rating and set a $57.00 price target on shares of SPS Commerce in a research report on Friday, April 20th. Finally, Benchmark raised SPS Commerce from a “sell” rating to a “hold” rating in a research report on Monday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $70.57.
Shares of NASDAQ SPSC opened at $72.48 on Friday. SPS Commerce has a one year low of $45.02 and a one year high of $72.68. The firm has a market cap of $1.24 billion, a PE ratio of 172.57, a PEG ratio of 3.10 and a beta of 0.76.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, April 26th. The software maker reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. SPS Commerce had a positive return on equity of 3.01% and a negative net margin of 0.95%. The firm had revenue of $59.09 million for the quarter, compared to analysts’ expectations of $57.81 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts forecast that SPS Commerce will post 0.92 earnings per share for the current fiscal year.
In other news, CFO Kimberly K. Nelson sold 5,968 shares of the company’s stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $67.00, for a total transaction of $399,856.00. Following the transaction, the chief financial officer now owns 58,710 shares of the company’s stock, valued at approximately $3,933,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Smerklo sold 682 shares of the company’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $71.77, for a total value of $48,947.14. The disclosure for this sale can be found here. Insiders have sold a total of 23,350 shares of company stock worth $1,635,505 in the last ninety days. Insiders own 2.80% of the company’s stock.
SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
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