Summitry LLC Makes New Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

Summitry LLC bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,205 shares of the software maker’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently made changes to their positions in SPSC. Franklin Resources Inc. boosted its position in SPS Commerce by 94.5% in the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after buying an additional 210,284 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $27,441,000. Geneva Capital Management LLC grew its stake in SPS Commerce by 31.1% in the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock worth $107,045,000 after purchasing an additional 138,014 shares in the last quarter. FMR LLC raised its position in SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings 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 buying an additional 104,210 shares during the period. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Performance

SPS Commerce stock opened at $135.00 on Wednesday. The business’s 50-day simple moving average is $156.37 and its two-hundred day simple moving average is $176.80. The company has a market cap of $5.10 billion, a PE ratio of 66.18 and a beta of 0.92. SPS Commerce, Inc. has a fifty-two week low of $122.58 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly 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 return on equity of 12.27% and a net margin of 12.08%. As a group, analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 2,840 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the sale, the chief executive officer now directly owns 5,270,106 shares of the company’s stock, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dan Juckniess sold 2,591 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,367,584 shares of the company’s stock, valued at $202,429,783.68. The trade was a 0.19 % 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 over the last 90 days. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SPSC shares. Piper Sandler cut 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 set a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus reduced their price target 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. Finally, Citigroup lowered their price objective on 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $207.11.

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.