Northern Trust Corp Acquires 51,839 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Northern Trust Corp raised its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 11.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 510,041 shares of the software maker's stock after buying an additional 51,839 shares during the quarter. Northern Trust Corp owned 1.36% of SPS Commerce worth $93,842,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of SPS Commerce by 209.6% during the third quarter. Barclays PLC now owns 66,387 shares of the software maker's stock valued at $12,890,000 after buying an additional 44,946 shares during the last quarter. Tidal Investments LLC raised its holdings in SPS Commerce by 15.8% in the 3rd quarter. Tidal Investments LLC now owns 1,937 shares of the software maker's stock valued at $376,000 after acquiring an additional 265 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of SPS Commerce by 94.5% in the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker's stock worth $84,747,000 after acquiring an additional 210,284 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker's stock worth $49,404,000 after purchasing an additional 104,210 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of SPS Commerce by 13.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 1,010 shares of the software maker's stock valued at $186,000 after purchasing an additional 120 shares during the period. 98.96% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the sale, the chief executive officer now directly owns 5,270,106 shares of the company's stock, valued at $780,608,100.72. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dan Juckniess sold 2,591 shares of the firm's 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 transaction, the executive vice president now owns 1,367,584 shares in the company, valued at approximately $202,429,783.68. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,465 shares of company stock valued at $1,401,898. 0.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of recent research reports. Piper Sandler decreased their price target 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. Needham & Company LLC restated a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a research note on Friday, April 25th. 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 research note on Tuesday, February 11th. Stifel Nicolaus decreased their price target on SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Citigroup dropped their price objective 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, SPS Commerce has an average rating of "Moderate Buy" and an average target price of $198.11.

SPS Commerce Stock Down 0.8 %

NASDAQ:SPSC traded down $1.09 during mid-day trading on Friday, reaching $144.04. 181,498 shares of the company were exchanged, compared to its average volume of 241,244. SPS Commerce, Inc. has a 12 month low of $120.09 and a 12 month high of $218.61. The company has a fifty day moving average of $133.03 and a 200 day moving average of $162.62. The stock has a market cap of $5.47 billion, a PE ratio of 70.61 and a beta of 0.81.

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, beating the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The company had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. During the same period last year, the firm earned $0.86 EPS. The business's revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

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.