PAX Financial Group LLC Takes $317,000 Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Posted by Danessa Lincoln on May 26th, 2023

PAX Financial Group LLC bought a new position in SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,469 shares of the software maker’s stock, valued at approximately $317,000.

Other large investors also recently modified their holdings of the company. Belpointe Asset Management LLC bought a new stake in SPS Commerce during the 4th quarter valued at approximately $31,000. CWM LLC raised its stake in SPS Commerce by 40.8% during the 4th quarter. CWM LLC now owns 314 shares of the software maker’s stock valued at $40,000 after buying an additional 91 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in SPS Commerce during the 3rd quarter valued at $64,000. Quadrant Capital Group LLC raised its stake in SPS Commerce by 440.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 865 shares of the software maker’s stock valued at $107,000 after buying an additional 705 shares during the last quarter. Finally, FSM Wealth Advisors LLC purchased a new stake in SPS Commerce during the 4th quarter valued at $203,000. 99.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of SPS Commerce in a research report on Thursday, May 18th. They set a “buy” rating for the company. Northland Securities boosted their price objective on shares of SPS Commerce from $151.00 to $154.00 in a research report on Thursday, April 27th. Craig Hallum boosted their price objective on shares of SPS Commerce from $160.00 to $165.00 in a research report on Thursday, April 27th. JMP Securities boosted their price objective on shares of SPS Commerce from $150.00 to $165.00 and gave the company a “market outperform” rating in a research report on Friday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of SPS Commerce in a report on Friday, March 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.50.

Insider Buying and Selling at SPS Commerce

In related news, Director Sven Wehrwein sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were 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 owns 17,684 shares of the company’s stock, valued at $2,570,723.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Kimberly K. Nelson sold 3,600 shares of SPS Commerce stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $163.11, for a total value of $587,196.00. Following the sale, the chief financial officer now owns 148,734 shares in the company, valued at $24,260,002.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sven Wehrwein sold 1,000 shares of SPS Commerce stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $145.37, for a total transaction of $145,370.00. Following the completion of the sale, the director now owns 17,684 shares in the company, valued at approximately $2,570,723.08. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

SPS Commerce Stock Up 2.4 %

Shares of NASDAQ SPSC traded up $3.89 during midday trading on Friday, reaching $163.48. 25,070 shares of the company’s stock traded hands, compared to its average volume of 141,218. The stock’s 50 day simple moving average is $151.28 and its 200-day simple moving average is $141.65. SPS Commerce, Inc. has a one year low of $97.75 and a one year high of $163.67. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 102.30 and a beta of 0.78.

SPS Commerce Profile

(Get Rating)

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.