Fred Alger Management LLC Raises Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Fred Alger Management LLC raised its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 481,317 shares of the software maker's stock after buying an additional 25,414 shares during the quarter. Fred Alger Management LLC owned about 1.28% of SPS Commerce worth $88,558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of SPS Commerce by 109.7% in the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after purchasing an additional 742,686 shares during the last quarter. Norges Bank purchased a new position in shares of SPS Commerce in the fourth quarter worth about $81,543,000. JPMorgan Chase & Co. raised its stake in shares of SPS Commerce by 99.3% in the fourth quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock worth $93,286,000 after purchasing an additional 252,575 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of SPS Commerce by 33.4% in the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after purchasing an additional 191,740 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of SPS Commerce in the fourth quarter worth about $27,441,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Trading Up 0.3%

SPS Commerce stock traded up $0.48 during midday trading on Tuesday, hitting $152.35. 132,753 shares of the stock were exchanged, compared to its average volume of 240,865. SPS Commerce, Inc. has a fifty-two week low of $120.09 and a fifty-two week high of $218.61. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 74.68 and a beta of 0.81. The stock's 50-day simple moving average is $133.39 and its 200 day simple moving average is $162.29.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data 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 net margin of 12.08% and a return on equity of 12.27%. The firm had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. During the same period last year, the business earned $0.86 earnings per share. SPS Commerce's revenue was up 21.4% compared to the same quarter last year. Equities analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SPSC shares. Stifel Nicolaus reduced their price target on SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Piper Sandler reduced their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Northland Securities reiterated a "market perform" rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Robert W. Baird lifted 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, Citigroup reduced their price target on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $198.11.

Insider Transactions at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 4,034 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.17, for a total value of $597,717.78. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares of the company's stock, valued at approximately $780,608,100.72. The trade was a 0.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,465 shares of company stock worth $1,401,898. 0.98% of the stock is currently owned by company insiders.

SPS Commerce 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.