42,978 Shares in SPS Commerce, Inc. (NASDAQ:SPSC) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 42,978 shares of the software maker's stock, valued at approximately $7,908,000. Balyasny Asset Management L.P. owned about 0.11% of SPS Commerce as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bayesian Capital Management LP acquired a new position in SPS Commerce in the fourth quarter valued at approximately $498,000. Bank of America Corp DE increased its stake in SPS Commerce by 0.4% in the 4th quarter. Bank of America Corp DE now owns 300,269 shares of the software maker's stock valued at $55,246,000 after purchasing an additional 1,224 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of SPS Commerce by 6.3% during the 4th quarter. Benjamin Edwards Inc. now owns 2,246 shares of the software maker's stock worth $413,000 after purchasing an additional 134 shares during the last quarter. Algert Global LLC boosted its holdings in shares of SPS Commerce by 86.9% during the fourth quarter. Algert Global LLC now owns 17,525 shares of the software maker's stock worth $3,224,000 after purchasing an additional 8,150 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of SPS Commerce by 33.4% during the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after buying an additional 191,740 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Down 0.5%

Shares of SPSC stock traded down $0.79 during trading hours on Thursday, reaching $148.97. The company's stock had a trading volume of 69,459 shares, compared to its average volume of 241,983. SPS Commerce, Inc. has a fifty-two week low of $120.09 and a fifty-two week high of $218.61. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 73.06 and a beta of 0.81. The firm's 50 day simple moving average is $134.22 and its 200-day simple moving average is $162.14.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The firm had revenue of $181.55 million for the quarter, compared to the consensus estimate of $179.57 million. During the same quarter in the previous year, the business earned $0.86 EPS. The company's revenue was up 21.4% compared to the same quarter last year. Sell-side analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPSC. Robert W. Baird increased their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Northland Securities reaffirmed a "market perform" rating and set a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Piper Sandler cut their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. DA Davidson cut their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $195.38.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 2,591 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now owns 1,367,584 shares of the company's stock, valued at approximately $202,429,783.68. This represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief financial officer now owns 2,442,968 shares of the company's stock, valued at approximately $361,974,568.56. This trade represents a 0.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,465 shares of company stock valued at $1,401,898 over the last three months. Corporate 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.