Synovus Financial Corp Increases Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Synovus Financial Corp grew its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,430 shares of the software maker’s stock after acquiring an additional 115 shares during the quarter. Synovus Financial Corp’s holdings in SPS Commerce were worth $1,735,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPSC. MML Investors Services LLC increased its stake in SPS Commerce by 4.1% in the third quarter. MML Investors Services LLC now owns 9,450 shares of the software maker’s stock valued at $1,835,000 after purchasing an additional 368 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of SPS Commerce by 15,980.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,060 shares of the software maker’s stock valued at $2,342,000 after buying an additional 11,985 shares during the last quarter. Barclays PLC raised its stake in SPS Commerce by 209.6% during the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after acquiring an additional 44,946 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in SPS Commerce by 5.0% in the third quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock valued at $237,000 after acquiring an additional 58 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in SPS Commerce by 7.4% in the third quarter. Sanctuary Advisors LLC now owns 3,102 shares of the software maker’s stock valued at $587,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In other news, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at $202,429,783.68. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now directly owns 156,292 shares in the company, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,864 shares of company stock valued at $6,613,078. 0.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPSC. Stifel Nicolaus cut their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird reduced their price objective 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. Piper Sandler lowered their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Northland Securities reiterated a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Finally, Citigroup lowered their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.89.

SPS Commerce Stock Up 0.4 %

NASDAQ SPSC opened at $130.75 on Wednesday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 64.09 and a beta of 0.89. SPS Commerce, Inc. has a 52-week low of $120.09 and a 52-week high of $218.61. The firm has a 50-day moving average price of $135.82 and a 200 day moving average price of $169.51.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. On average, equities research analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share 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.