Ostrum Asset Management Increases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Ostrum Asset Management grew its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 55.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 632 shares of the software maker’s stock after purchasing an additional 226 shares during the quarter. Ostrum Asset Management’s holdings in SPS Commerce were worth $116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPSC. Barclays PLC grew its stake in shares of SPS Commerce by 209.6% in the third 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 during the period. Sanctuary Advisors LLC boosted its holdings in SPS Commerce by 7.4% in the third quarter. Sanctuary Advisors LLC now owns 3,102 shares of the software maker’s stock worth $587,000 after purchasing an additional 213 shares during the last quarter. Tidal Investments LLC grew its position in SPS Commerce by 15.8% in the 3rd quarter. Tidal Investments LLC now owns 1,937 shares of the software maker’s stock worth $376,000 after purchasing an additional 265 shares during the period. Synovus Financial Corp purchased a new stake in SPS Commerce during the 3rd quarter valued at $1,809,000. Finally, Franklin Resources Inc. boosted its stake in shares of SPS Commerce by 94.5% in the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after buying an additional 210,284 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on SPSC shares. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a research report on Wednesday, March 26th. Northland Securities reissued a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Piper Sandler cut their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.89.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 2,840 shares of the business’s 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 sale, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 owns 156,292 shares of the company’s stock, 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 90 days, insiders have sold 37,864 shares of company stock worth $6,613,078. Insiders own 0.98% of the company’s stock.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $129.06 on Friday. The company has a fifty day moving average of $133.39 and a 200 day moving average of $168.20. The company has a market capitalization of $4.91 billion, a P/E ratio of 63.27 and a beta of 0.89. SPS Commerce, Inc. has a fifty-two week low of $120.09 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share 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%. Analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current year.

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.