Oppenheimer Asset Management Inc. Has $7.08 Million Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Oppenheimer Asset Management Inc. lessened its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 36,438 shares of the software maker’s stock after selling 1,640 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SPS Commerce were worth $7,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mather Group LLC. increased its position in shares of SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in SPS Commerce in the 2nd quarter worth $30,000. Blue Trust Inc. increased its holdings in SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of SPS Commerce in the 2nd quarter valued at about $63,000. Finally, Signaturefd LLC lifted its holdings in shares of SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SPSC has been the subject of a number of research reports. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Craig Hallum lifted their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. DA Davidson increased their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus lifted their target price on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and an average target price of $223.63.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $179.74 on Friday. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 86.00 and a beta of 0.84. The firm’s 50-day moving average is $187.62 and its 200-day moving average is $191.35.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts predict that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

SPS Commerce Company 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.