Nicholas Investment Partners LP Buys 2,500 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Nicholas Investment Partners LP increased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,239 shares of the software maker's stock after purchasing an additional 2,500 shares during the period. Nicholas Investment Partners LP owned 0.10% of SPS Commerce worth $7,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SPSC. Nuveen Asset Management LLC increased its position in shares of SPS Commerce by 18.8% in the fourth quarter. Nuveen Asset Management LLC now owns 297,908 shares of the software maker's stock worth $54,812,000 after acquiring an additional 47,174 shares in the last quarter. Numerai GP LLC grew its position in SPS Commerce by 486.5% during the fourth quarter. Numerai GP LLC now owns 7,924 shares of the software maker's stock valued at $1,458,000 after purchasing an additional 6,573 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of SPS Commerce by 72.8% in the fourth quarter. Janus Henderson Group PLC now owns 77,361 shares of the software maker's stock worth $14,242,000 after buying an additional 32,594 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in SPS Commerce during the 4th quarter valued at $303,000. Finally, Group One Trading LLC acquired a new position in shares of SPS Commerce in the 4th quarter valued at $102,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Down 1.0%

Shares of NASDAQ:SPSC traded down $1.53 during trading on Monday, hitting $149.41. The stock had a trading volume of 24,993 shares, compared to its average volume of 242,636. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 73.27 and a beta of 0.81. The stock has a 50-day simple moving average of $135.16 and a two-hundred day simple moving average of $161.76. SPS Commerce, Inc. has a 12-month low of $120.09 and a 12-month high of $218.61.

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

Insider Transactions at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 4,034 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 2,442,968 shares in the company, valued at approximately $361,974,568.56. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 2,591 shares of SPS Commerce stock in a transaction dated Wednesday, February 19th. The stock was 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. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,465 shares of company stock valued at $1,401,898. Corporate insiders own 0.98% of the company's stock.

Analyst Ratings Changes

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

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.