Hillsdale Investment Management Inc. Increases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Hillsdale Investment Management Inc. raised its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 30,680 shares of the software maker’s stock after purchasing an additional 200 shares during the period. Hillsdale Investment Management Inc.’s holdings in SPS Commerce were worth $5,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after purchasing an additional 44,946 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SPS Commerce by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker’s stock worth $88,576,000 after acquiring an additional 16,272 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of SPS Commerce by 2.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker’s stock worth $1,047,000 after acquiring an additional 110 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of SPS Commerce in the 3rd quarter worth $1,809,000. Finally, JPMorgan Chase & Co. increased its stake in shares of SPS Commerce by 69.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after acquiring an additional 104,210 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Up 1.4 %

Shares of NASDAQ:SPSC opened at $130.13 on Friday. The business has a 50-day moving average price of $157.25 and a 200 day moving average price of $177.36. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 63.79 and a beta of 0.92. SPS Commerce, Inc. has a 12-month low of $122.58 and a 12-month high of $218.61.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. As a group, equities research analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPSC. Citigroup cut their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Robert W. Baird cut their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC cut their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus cut their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Piper Sandler cut their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.11.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at $28,864,006.56. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares of the company’s stock, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,864 shares of company stock valued at $6,613,078 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.