Thematics Asset Management Increases Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Thematics Asset Management lifted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 155,452 shares of the software maker's stock after buying an additional 41,538 shares during the quarter. SPS Commerce comprises about 1.2% of Thematics Asset Management's portfolio, making the stock its 23rd largest holding. Thematics Asset Management owned approximately 0.41% of SPS Commerce worth $28,602,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC lifted its position in SPS Commerce by 209.6% during the third 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. Sanctuary Advisors LLC lifted its holdings in SPS Commerce by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,102 shares of the software maker's stock worth $587,000 after purchasing an additional 213 shares during the last quarter. Tidal Investments LLC boosted its stake 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 purchasing an additional 265 shares during the period. Synovus Financial Corp acquired a new position in SPS Commerce in the 3rd quarter valued at $1,809,000. Finally, Franklin Resources Inc. increased its position in SPS Commerce by 94.5% during the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker's stock worth $84,747,000 after buying an additional 210,284 shares during the period. Institutional investors own 98.96% of the company's stock.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 2,591 shares of the business'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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now owns 156,292 shares of the company's stock, valued at $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock worth $6,613,078 in the last 90 days. 0.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Northland Securities restated a "market perform" rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Citigroup decreased their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Stifel Nicolaus dropped their target price on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Piper Sandler cut their price objective on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, Needham & Company LLC reissued a "buy" rating and set a $210.00 target price on shares of SPS Commerce in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $198.11.

SPS Commerce Stock Down 1.7 %

Shares of SPSC stock traded down $2.33 on Friday, reaching $136.70. The company's stock had a trading volume of 405,207 shares, compared to its average volume of 235,451. The company has a market capitalization of $5.20 billion, a P/E ratio of 67.06 and a beta of 0.89. The stock's 50 day simple moving average is $132.08 and its 200-day simple moving average is $166.79. 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 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The business had revenue of $181.55 million for the quarter, compared to analysts' expectations of $179.57 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

About SPS Commerce

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.