Zacks Investment Management Has $2.92 Million Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Zacks Investment Management grew its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 75.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,869 shares of the software maker's stock after buying an additional 6,822 shares during the quarter. Zacks Investment Management's holdings in SPS Commerce were worth $2,920,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of SPS Commerce in the 4th quarter valued at about $40,000. Hurley Capital LLC purchased a new position in shares of SPS Commerce during the 4th quarter valued at approximately $41,000. Blue Trust Inc. grew its position in SPS Commerce by 49.1% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock valued at $47,000 after buying an additional 84 shares during the period. R Squared Ltd purchased a new position in shares of SPS Commerce in the 4th quarter valued at about $57,000. Finally, Arcadia Investment Management Corp MI acquired a new position in SPS Commerce during the fourth quarter worth $57,000. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC traded up $5.45 during trading hours on Wednesday, hitting $135.17. The stock had a trading volume of 103,954 shares, compared to its average volume of 232,123. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61. The stock's fifty day simple moving average is $132.50 and its 200 day simple moving average is $167.38. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 66.26 and a beta of 0.89.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on SPSC shares. Robert W. Baird cut their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Piper Sandler dropped their target price on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Northland Securities reiterated a "market perform" rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. DA Davidson lowered their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research report on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SPS Commerce currently has an average rating of "Moderate Buy" and an average target price of $199.89.

Insiders Place Their Bets

In related news, CFO Kimberly K. Nelson sold 9,290 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 156,292 shares in the company, valued at $28,864,006.56. This represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the transaction, the executive vice president now directly owns 22,570 shares in the company, valued at approximately $4,167,776.20. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,864 shares of company stock valued at $6,613,078 in the last quarter. Insiders own 0.98% of the company's stock.

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.