SPS Commerce, Inc. (NASDAQ:SPSC) is Granahan Investment Management LLC's 10th Largest Position

Granahan Investment Management LLC grew its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,920 shares of the software maker's stock after buying an additional 29,274 shares during the quarter. SPS Commerce comprises 2.3% of Granahan Investment Management LLC's investment portfolio, making the stock its 10th biggest holding. Granahan Investment Management LLC owned 0.81% of SPS Commerce worth $55,734,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in SPS Commerce by 109.7% in the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after acquiring an additional 742,686 shares during the period. Norges Bank acquired a new stake in shares of SPS Commerce in the fourth quarter valued at about $81,543,000. JPMorgan Chase & Co. boosted its holdings in SPS Commerce by 99.3% during the fourth quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock worth $93,286,000 after buying an additional 252,575 shares in the last quarter. Ameriprise Financial Inc. grew its position in SPS Commerce by 33.4% during the fourth 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 period. Finally, Raymond James Financial Inc. purchased a new position in SPS Commerce in the fourth quarter valued at about $27,441,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Price Performance

SPS Commerce stock opened at $144.04 on Friday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 70.61 and a beta of 0.81. SPS Commerce, Inc. has a 12-month low of $120.09 and a 12-month high of $218.61. The firm's 50-day moving average is $133.03 and its two-hundred day moving average is $162.81.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its 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. 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 in the previous year, the company earned $0.86 EPS. SPS Commerce's revenue for the quarter was up 21.4% on a year-over-year basis. As a group, analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of research reports. Stifel Nicolaus lowered their price target on SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Robert W. Baird upped their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Citigroup cut their price target on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research note on Monday, January 27th. DA Davidson lowered their price objective on shares of 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, Piper Sandler cut their target price on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $198.11.

Insider Buying and Selling

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

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.

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