D. E. Shaw & Co. Inc. Boosts Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

D. E. Shaw & Co. Inc. increased its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 96.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 161,954 shares of the software maker's stock after acquiring an additional 79,540 shares during the period. D. E. Shaw & Co. Inc. owned about 0.43% of SPS Commerce worth $29,798,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker's stock worth $12,890,000 after acquiring an additional 44,946 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in SPS Commerce by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker's stock worth $88,576,000 after purchasing an additional 16,272 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of SPS Commerce by 2.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker's stock valued at $1,047,000 after buying an additional 110 shares during the period. Van ECK Associates Corp boosted its position in SPS Commerce by 35.7% in the fourth quarter. Van ECK Associates Corp now owns 29,919 shares of the software maker's stock worth $5,505,000 after purchasing an additional 7,871 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its position in shares of SPS Commerce by 75.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 7,000 shares of the software maker's stock valued at $1,288,000 after purchasing an additional 3,000 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Trading Down 1.9%

SPS Commerce stock traded down $2.92 during mid-day trading on Wednesday, hitting $149.75. The stock had a trading volume of 317,964 shares, compared to its average volume of 242,667. The firm has a market capitalization of $5.69 billion, a P/E ratio of 73.41 and a beta of 0.81. The firm's 50 day moving average is $134.22 and its 200 day moving average is $162.14. SPS Commerce, Inc. has a one year low of $120.09 and a one year high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly 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 business had revenue of $181.55 million for the quarter, compared to analysts' expectations of $179.57 million. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, equities research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the sale, the chief executive officer now directly owns 5,270,106 shares of the company's stock, valued at $780,608,100.72. This represents a 0.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total transaction of $383,519.82. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,465 shares of company stock worth $1,401,898 in the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus cut their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. DA Davidson cut their price objective on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $210.00 price objective 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 six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.11.

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.