Martingale Asset Management L P Has $3.85 Million Stake in SPS Commerce, Inc. (SPSC)

Martingale Asset Management L P boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,805 shares of the software maker’s stock after purchasing an additional 401 shares during the period. Martingale Asset Management L P owned about 0.22% of SPS Commerce worth $3,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in SPS Commerce by 15.6% in the 3rd quarter. BlackRock Inc. now owns 2,756,839 shares of the software maker’s stock valued at $273,588,000 after purchasing an additional 371,408 shares in the last quarter. FMR LLC increased its stake in SPS Commerce by 19.8% in the 2nd quarter. FMR LLC now owns 1,218,502 shares of the software maker’s stock valued at $89,536,000 after purchasing an additional 201,002 shares in the last quarter. Vanguard Group Inc increased its stake in SPS Commerce by 6.7% in the 3rd quarter. Vanguard Group Inc now owns 1,104,668 shares of the software maker’s stock valued at $109,627,000 after purchasing an additional 69,574 shares in the last quarter. Vanguard Group Inc. increased its stake in SPS Commerce by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,104,668 shares of the software maker’s stock valued at $109,627,000 after purchasing an additional 69,574 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in SPS Commerce by 15.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 507,006 shares of the software maker’s stock valued at $50,315,000 after purchasing an additional 69,440 shares in the last quarter. 93.36% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Archie C. Black sold 31,932 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $96.06, for a total transaction of $3,067,387.92. Following the sale, the chief executive officer now owns 122,256 shares in the company, valued at $11,743,911.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Archie C. Black sold 1,997 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $95.08, for a total value of $189,874.76. Following the sale, the chief executive officer now owns 92,321 shares in the company, valued at approximately $8,777,880.68. The disclosure for this sale can be found here. Insiders have sold 42,245 shares of company stock worth $4,053,437 in the last 90 days. Insiders own 3.60% of the company’s stock.

SPSC stock opened at $88.31 on Friday. SPS Commerce, Inc. has a 52-week low of $49.46 and a 52-week high of $100.68. The firm has a market cap of $1.55 billion, a PE ratio of 209.67, a price-to-earnings-growth ratio of 2.89 and a beta of 0.73.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 25th. The software maker reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. SPS Commerce had a return on equity of 5.55% and a net margin of 3.16%. The business had revenue of $62.87 million for the quarter, compared to analysts’ expectations of $61.61 million. Research analysts expect that SPS Commerce, Inc. will post 1.3 EPS for the current fiscal year.

A number of brokerages have commented on SPSC. ValuEngine cut SPS Commerce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 21st. BidaskClub upgraded SPS Commerce from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 18th. Oppenheimer increased their target price on SPS Commerce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, October 26th. Benchmark increased their target price on SPS Commerce to $98.00 and gave the company a “buy” rating in a report on Friday, October 26th. Finally, Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $106.00 target price on the stock in a report on Thursday, November 1st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $90.56.

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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.

Further Reading: Cost of Equity

Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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