Meeder Asset Management Inc. lifted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 378.9% in the 1st quarter, Holdings Channel reports. The firm owned 704 shares of the software maker’s stock after acquiring an additional 557 shares during the period. Meeder Asset Management Inc.’s holdings in SPS Commerce were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in SPSC. Bank of New York Mellon Corp raised its holdings in shares of SPS Commerce by 10.1% during the third quarter. Bank of New York Mellon Corp now owns 221,890 shares of the software maker’s stock valued at $22,020,000 after purchasing an additional 20,390 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of SPS Commerce during the third quarter valued at about $10,748,000. JPMorgan Chase & Co. raised its holdings in shares of SPS Commerce by 411.8% during the third quarter. JPMorgan Chase & Co. now owns 233,022 shares of the software maker’s stock valued at $23,125,000 after purchasing an additional 187,488 shares during the period. Verition Fund Management LLC acquired a new position in shares of SPS Commerce during the third quarter valued at about $338,000. Finally, MetLife Investment Advisors LLC raised its holdings in shares of SPS Commerce by 56.7% during the third quarter. MetLife Investment Advisors LLC now owns 11,831 shares of the software maker’s stock valued at $1,174,000 after purchasing an additional 4,281 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on SPSC shares. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective (up previously from $64.00) on shares of SPS Commerce in a report on Wednesday, February 13th. reiterated an “outperform” rating and set a $112.00 price objective (up previously from $95.00) on shares of SPS Commerce in a report on Wednesday, February 13th. They noted that the move was a valuation call. Canaccord Genuity upped their price objective on shares of SPS Commerce from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. ValuEngine upgraded shares of SPS Commerce from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Finally, upped their price objective on shares of SPS Commerce from $95.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $108.42.
NASDAQ:SPSC opened at $107.13 on Monday. The stock has a market cap of $1.87 billion, a PE ratio of 87.81, a price-to-earnings-growth ratio of 4.79 and a beta of 0.81. SPS Commerce, Inc. has a one year low of $67.14 and a one year high of $115.00.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, April 25th. The software maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.30. SPS Commerce had a net margin of 10.71% and a return on equity of 8.83%. The business had revenue of $66.93 million during the quarter, compared to the consensus estimate of $66.16 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that SPS Commerce, Inc. will post 1.49 EPS for the current year.
In related news, CEO Archie C. Black sold 1,705 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $104.09, for a total transaction of $177,473.45. Following the sale, the chief executive officer now directly owns 90,007 shares in the company, valued at approximately $9,368,828.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip Soran sold 2,644 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $107.33, for a total transaction of $283,780.52. Following the sale, the director now owns 9,732 shares in the company, valued at $1,044,535.56. The disclosure for this sale can be found here. Insiders sold a total of 35,984 shares of company stock valued at $3,752,731 over the last ninety days. 3.34% of the stock is currently owned by insiders.
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About SPS Commerce
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.
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