SPS Commerce, Inc. (NASDAQ:SPSC) Position Raised by Holocene Advisors LP

Holocene Advisors LP lifted its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 322.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,171 shares of the software maker’s stock after acquiring an additional 12,344 shares during the period. Holocene Advisors LP’s holdings in SPS Commerce were worth $3,140,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Benjamin Edwards Inc. boosted its stake in SPS Commerce by 30.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,112 shares of the software maker’s stock valued at $410,000 after purchasing an additional 498 shares during the period. Edgestream Partners L.P. boosted its stake in SPS Commerce by 17.5% during the 3rd quarter. Edgestream Partners L.P. now owns 41,757 shares of the software maker’s stock valued at $8,108,000 after purchasing an additional 6,204 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of SPS Commerce by 0.8% in the 3rd quarter. Martingale Asset Management L P now owns 12,709 shares of the software maker’s stock worth $2,468,000 after buying an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of SPS Commerce by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,631 shares of the software maker’s stock valued at $1,676,000 after buying an additional 614 shares during the period. Finally, FORA Capital LLC boosted its stake in SPS Commerce by 27.4% during the third quarter. FORA Capital LLC now owns 4,707 shares of the software maker’s stock valued at $914,000 after buying an additional 1,013 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Stock Down 2.8 %

Shares of SPS Commerce stock opened at $189.60 on Friday. SPS Commerce, Inc. has a 12 month low of $160.58 and a 12 month high of $218.74. The stock has a market cap of $7.12 billion, a PE ratio of 90.72 and a beta of 0.86. The business has a fifty day simple moving average of $186.51 and a 200-day simple moving average of $191.16.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. The company had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. Analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 of the company’s stock, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SPSC shares. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Robert W. Baird raised their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Stifel Nicolaus upped their price target on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler began coverage on SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

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.