Cibc World Markets Corp Buys New Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Cibc World Markets Corp bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,527 shares of the software maker’s stock, valued at approximately $649,000.

Several other hedge funds also recently added to or reduced their stakes in SPSC. 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 valued at $84,747,000 after buying an additional 210,284 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of SPS Commerce in the fourth quarter valued at about $27,441,000. Geneva Capital Management LLC increased its holdings in shares of 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 purchasing an additional 138,014 shares during the period. FMR LLC increased its holdings in shares of SPS Commerce by 18.3% in the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after purchasing an additional 104,210 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Dan Juckniess sold 2,591 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total transaction of $383,519.82. Following the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at approximately $202,429,783.68. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the transaction, the chief financial officer now owns 156,292 shares in the company, valued at approximately $28,864,006.56. The trade was a 5.61 % decrease in their position. 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 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SPSC shares. Stifel Nicolaus cut their price objective on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Piper Sandler dropped their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Citigroup dropped their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Needham & Company LLC dropped their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Five investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Trading Up 1.4 %

Shares of SPSC stock opened at $130.13 on Friday. The company has a market capitalization of $4.92 billion, a P/E ratio of 63.79 and a beta of 0.92. The business’s 50 day moving average is $157.25 and its two-hundred day moving average is $177.26. SPS Commerce, Inc. has a 12-month low of $122.58 and a 12-month high of $218.61.

SPS Commerce (NASDAQ:SPSC) 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 net margin of 12.08% and a return on equity of 12.27%. On average, research analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

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.