Smith Group Asset Management LLC Increases Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Smith Group Asset Management LLC increased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 25.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,533 shares of the software maker’s stock after buying an additional 726 shares during the quarter. Smith Group Asset Management LLC’s holdings in SPS Commerce were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPSC. Norden Group LLC grew its stake in SPS Commerce by 2,034.7% during the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after buying an additional 201,764 shares during the last quarter. AMI Asset Management Corp lifted its position in SPS Commerce by 19.7% during the 1st quarter. AMI Asset Management Corp now owns 18,641 shares of the software maker’s stock worth $3,447,000 after acquiring an additional 3,067 shares during the period. Van ECK Associates Corp lifted its position in SPS Commerce by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 13,228 shares of the software maker’s stock worth $2,446,000 after acquiring an additional 3,538 shares during the period. Diversify Advisory Services LLC acquired a new stake in SPS Commerce during the 1st quarter worth about $595,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in SPS Commerce by 36.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 204,042 shares of the software maker’s stock worth $37,727,000 after acquiring an additional 54,600 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $171.01 on Tuesday. The business has a 50 day simple moving average of $192.69 and a two-hundred day simple moving average of $190.73. SPS Commerce, Inc. has a 12 month low of $153.87 and a 12 month high of $218.74. The stock has a market capitalization of $6.42 billion, a P/E ratio of 81.82 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SPSC. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. DA Davidson boosted their price objective on SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a report on Friday, July 26th. Robert W. Baird boosted their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a report on Friday. Finally, Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $205.00 to $209.00 in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and a consensus price target of $223.63.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the sale, the director now owns 16,212 shares of the company’s stock, valued at approximately $3,264,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% 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.