Morgan Stanley Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Morgan Stanley raised its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 411,381 shares of the software maker’s stock after purchasing an additional 33,685 shares during the quarter. Morgan Stanley owned 1.18% of SPS Commerce worth $19,133,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Needham Investment Management LLC purchased a new stake in SPS Commerce in the first quarter valued at $2,326,000. Silvercrest Asset Management Group LLC purchased a new stake in SPS Commerce in the first quarter valued at $1,996,000. Echo Street Capital Management LLC boosted its holdings in SPS Commerce by 16.0% in the first quarter. Echo Street Capital Management LLC now owns 160,675 shares of the software maker’s stock valued at $7,473,000 after purchasing an additional 22,168 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in SPS Commerce by 5.3% in the first quarter. Thrivent Financial for Lutherans now owns 29,198 shares of the software maker’s stock valued at $1,358,000 after purchasing an additional 1,457 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in SPS Commerce by 38.0% in the first quarter. Wells Fargo & Company MN now owns 1,064,006 shares of the software maker’s stock valued at $49,487,000 after purchasing an additional 292,715 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Shares of NASDAQ SPSC opened at $75.12 on Wednesday. The company has a 50 day simple moving average of $67.95 and a 200-day simple moving average of $56.81. The company has a market capitalization of $2.61 billion, a P/E ratio of 74.75, a P/E/G ratio of 5.04 and a beta of 0.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.68 and a quick ratio of 4.68. SPS Commerce, Inc. has a 1 year low of $31.28 and a 1 year high of $76.85.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, April 30th. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.06. The business had revenue of $74.19 million during the quarter, compared to the consensus estimate of $73.82 million. SPS Commerce had a net margin of 12.72% and a return on equity of 11.07%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. As a group, research analysts expect that SPS Commerce, Inc. will post 0.99 EPS for the current year.

Several equities research analysts have recently issued reports on the stock. Craig Hallum lowered their target price on shares of SPS Commerce from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. ValuEngine lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Needham & Company LLC increased their target price on shares of SPS Commerce from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. BidaskClub upgraded shares of SPS Commerce from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 19th. Finally, Oppenheimer restated a “hold” rating on shares of SPS Commerce in a research report on Friday, May 1st. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.88.

In related news, Director Sven Wehrwein sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $57.31, for a total transaction of $57,310.00. Following the completion of the transaction, the director now owns 15,470 shares of the company’s stock, valued at approximately $886,585.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Archie C. Black sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $67.99, for a total transaction of $1,359,800.00. Following the transaction, the chief executive officer now directly owns 100,509 shares of the company’s stock, valued at approximately $6,833,606.91. The disclosure for this sale can be found here. Insiders have sold a total of 97,378 shares of company stock valued at $6,051,488 in the last 90 days. Insiders own 7.20% of the company’s stock.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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