Russell Investments Group Ltd. raised its stake in SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 35.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,034 shares of the software maker’s stock after purchasing an additional 18,464 shares during the period. Russell Investments Group Ltd. owned about 0.19% of SPS Commerce worth $8,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of SPS Commerce by 0.9% in the 3rd quarter. BlackRock Inc. now owns 5,775,824 shares of the software maker’s stock valued at $717,530,000 after acquiring an additional 49,143 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of SPS Commerce by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,032,211 shares of the software maker’s stock valued at $500,922,000 after acquiring an additional 56,939 shares during the last quarter. State Street Corp increased its holdings in shares of SPS Commerce by 0.8% in the 3rd quarter. State Street Corp now owns 1,227,100 shares of the software maker’s stock valued at $152,443,000 after acquiring an additional 10,068 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in shares of SPS Commerce by 5.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 1,006,653 shares of the software maker’s stock valued at $125,056,000 after acquiring an additional 51,388 shares during the last quarter. Finally, Eaton Vance Management increased its holdings in shares of SPS Commerce by 9.8% in the 3rd quarter. Eaton Vance Management now owns 455,921 shares of the software maker’s stock valued at $56,639,000 after acquiring an additional 40,623 shares during the last quarter. Institutional investors and hedge funds own 99.31% of the company’s stock.
SPS Commerce Stock Performance
Shares of SPSC stock opened at $155.72 on Friday. SPS Commerce, Inc. has a 1 year low of $96.41 and a 1 year high of $159.65. The stock has a market cap of $5.69 billion, a PE ratio of 99.82 and a beta of 0.78. The stock has a fifty day moving average price of $148.92 and a 200 day moving average price of $139.58.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on SPSC. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of SPS Commerce in a report on Friday, March 3rd. StockNews.com initiated coverage on SPS Commerce in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Craig Hallum raised their price target on SPS Commerce from $160.00 to $165.00 in a research note on Thursday, April 27th. JMP Securities raised their price target on SPS Commerce from $150.00 to $165.00 and gave the stock a “market outperform” rating in a research note on Friday, February 10th. Finally, Northland Securities lifted their target price on SPS Commerce from $151.00 to $154.00 in a research note on Thursday, April 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.50.
Insider Buying and Selling
In other news, Director Sven Wehrwein sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $145.37, for a total transaction of $145,370.00. Following the completion of the transaction, the director now directly owns 17,684 shares of the company’s stock, valued at $2,570,723.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sven Wehrwein sold 1,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $145.37, for a total value of $145,370.00. Following the completion of the sale, the director now owns 17,684 shares in the company, valued at $2,570,723.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 8,657 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $147.12, for a total transaction of $1,273,617.84. Following the completion of the transaction, the chief financial officer now directly owns 143,122 shares in the company, valued at $21,056,108.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,966 shares of company stock worth $8,780,680. 1.20% of the stock is currently owned by corporate insiders.
About SPS Commerce
SPS Commerce, Inc provides cloud-based supply chain management services. The firm serves retailers, suppliers, grocers, distributors and logistics firms to orchestrate the management of item data, order fulfillment, inventory control and sales analytics across all channels. Its SPS Commerce cloud services platform offers Trading Partner Community, Fulfillment, Assortment, Analytics, Sourcing, and Other Trading Partner Solutions.
Read More
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