Balyasny Asset Management L.P. Takes Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Balyasny Asset Management L.P. bought a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,978 shares of the software maker’s stock, valued at approximately $7,908,000. Balyasny Asset Management L.P. owned approximately 0.11% of SPS Commerce as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of SPS Commerce in the fourth quarter worth $40,000. Hurley Capital LLC acquired a new stake in SPS Commerce in the 4th quarter valued at $41,000. Blue Trust Inc. raised its position in SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after purchasing an additional 84 shares during the period. R Squared Ltd purchased a new position in SPS Commerce in the fourth quarter valued at about $57,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of SPS Commerce during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In other news, EVP Dan Juckniess sold 2,591 shares of SPS Commerce stock in a transaction dated 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 approximately $202,429,783.68. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the 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 owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,465 shares of company stock worth $1,401,898 over the last 90 days. Insiders own 0.98% of the company’s stock.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $144.04 on Friday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 70.61 and a beta of 0.81. SPS Commerce, Inc. has a one year low of $120.09 and a one year high of $218.61. The stock has a 50-day simple moving average of $133.03 and a 200 day simple moving average of $162.81.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.85 by $0.15. The company had revenue of $181.55 million during the quarter, compared to analyst estimates of $179.57 million. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The business’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. On average, equities research analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPSC. Stifel Nicolaus decreased their price target on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. DA Davidson decreased their target price on shares of SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of SPS Commerce in a research note on Friday, April 25th. Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Robert W. Baird lifted their target price on SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.11.

SPS Commerce 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.