Select Equity Group L.P. Boosts Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Select Equity Group L.P. increased its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,850 shares of the software maker’s stock after purchasing an additional 511 shares during the period. Select Equity Group L.P.’s holdings in SPS Commerce were worth $1,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of SPS Commerce by 0.6% in the 4th quarter. Amalgamated Bank now owns 11,005 shares of the software maker’s stock valued at $2,025,000 after purchasing an additional 61 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in shares of SPS Commerce by 6.0% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 1,255 shares of the software maker’s stock valued at $231,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of SPS Commerce by 49.1% in the 4th 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 last quarter. Amica Retiree Medical Trust lifted its holdings in shares of SPS Commerce by 19.4% in the 4th quarter. Amica Retiree Medical Trust now owns 518 shares of the software maker’s stock valued at $95,000 after purchasing an additional 84 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of SPS Commerce by 1.1% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,020 shares of the software maker’s stock valued at $1,476,000 after purchasing an additional 91 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPSC. Stifel Nicolaus dropped 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. Citigroup dropped their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. DA Davidson dropped their price target on SPS Commerce from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Robert W. Baird boosted their price target on SPS Commerce from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of SPS Commerce in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.38.

SPS Commerce Trading Up 1.6%

NASDAQ SPSC opened at $150.94 on Friday. The business’s 50 day moving average is $135.16 and its two-hundred day moving average is $161.78. SPS Commerce, Inc. has a 12-month low of $120.09 and a 12-month high of $218.61. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 73.99 and a beta of 0.81.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The company had revenue of $181.55 million for the quarter, compared to analysts’ expectations of $179.57 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. Equities analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kimberly K. Nelson sold 4,034 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.17, for a total transaction of $597,717.78. Following the sale, the chief financial officer now owns 2,442,968 shares of the company’s stock, valued at $361,974,568.56. The trade was a 0.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the sale, the executive vice president now directly owns 1,367,584 shares in the company, valued at $202,429,783.68. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,465 shares of company stock worth $1,401,898. Company insiders own 0.98% of the company’s stock.

About SPS Commerce

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.