Voleon Capital Management LP Buys New Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Voleon Capital Management LP bought a new stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,954 shares of the software maker's stock, valued at approximately $1,647,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of SPS Commerce by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock worth $852,032,000 after buying an additional 67,687 shares in the last quarter. FMR LLC raised its position in shares of SPS Commerce by 109.7% in the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after acquiring an additional 742,686 shares in the last quarter. Geneva Capital Management LLC lifted its stake in SPS Commerce by 31.1% in the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker's stock valued at $107,045,000 after buying an additional 138,014 shares during the period. Northern Trust Corp boosted its holdings in shares of SPS Commerce by 11.3% during the 4th quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock worth $93,842,000 after buying an additional 51,839 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of SPS Commerce by 99.3% during the 4th 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 during the period. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPSC has been the topic of several research analyst reports. Piper Sandler cut their target price 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. Northland Securities restated a "market perform" rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a research report on Friday, April 25th. Stifel Nicolaus cut 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. Finally, 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 report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $198.11.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the transaction, the chief executive officer now owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 2,591 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total transaction of $383,519.82. Following the completion of the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at $202,429,783.68. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,755 shares of company stock valued at $3,084,225 over the last ninety days. 0.98% of the stock is currently owned by insiders.

SPS Commerce Stock Down 1.0 %

NASDAQ SPSC traded down $1.49 on Tuesday, reaching $142.77. The company had a trading volume of 45,594 shares, compared to its average volume of 240,074. The stock has a market capitalization of $5.42 billion, a P/E ratio of 70.12 and a beta of 0.81. The company's fifty day moving average is $132.14 and its 200 day moving average is $163.76. SPS Commerce, Inc. has a 52-week low of $120.09 and a 52-week high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, beating 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 last year, the firm earned $0.86 earnings per share. The firm's revenue was up 21.4% on a year-over-year basis. On average, 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.