Edgestream Partners L.P. Has $8.11 Million Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Edgestream Partners L.P. raised its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,757 shares of the software maker’s stock after buying an additional 6,204 shares during the period. SPS Commerce comprises about 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 25th biggest holding. Edgestream Partners L.P. owned 0.11% of SPS Commerce worth $8,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SPSC. Mather Group LLC. grew its stake in shares of SPS Commerce by 800.0% in the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in SPS Commerce in the second quarter valued at approximately $30,000. Blue Trust Inc. grew its position in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Finally, DT Investment Partners LLC bought a new position in shares of SPS Commerce during the 2nd quarter valued at $63,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Stock Up 0.3 %

SPSC opened at $193.07 on Friday. The stock’s 50 day moving average price is $186.56 and its two-hundred day moving average price is $191.28. The firm has a market capitalization of $7.25 billion, a P/E ratio of 92.38 and a beta of 0.84. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same quarter last year, the company posted $0.53 earnings per share. SPS Commerce’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, analysts anticipate that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPSC has been the subject of a number of recent research reports. Piper Sandler began coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Robert W. Baird increased their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Stifel Nicolaus boosted their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $220.78.

Insiders Place Their Bets

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the sale, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.