Raymond James Financial Inc. Takes Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Raymond James Financial Inc. acquired a new stake in SPS Commerce, Inc. (NASDAQ:SPSC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 149,145 shares of the software maker’s stock, valued at approximately $27,441,000. Raymond James Financial Inc. owned 0.40% of SPS Commerce at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its position in SPS Commerce by 209.6% during the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after purchasing an additional 44,946 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SPS Commerce by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker’s stock valued at $88,576,000 after purchasing an additional 16,272 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in SPS Commerce during the third quarter valued at approximately $3,178,000. Synovus Financial Corp bought a new stake in SPS Commerce during the third quarter valued at approximately $1,809,000. Finally, JPMorgan Chase & Co. lifted its position in SPS Commerce by 69.4% during 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 last quarter. 98.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 2,591 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total transaction of $383,519.82. Following the transaction, the executive vice president now directly owns 1,367,584 shares of the company’s stock, valued at approximately $202,429,783.68. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the sale, the chief executive officer now owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,695 shares of company stock valued at $7,781,086. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research 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 research report on Tuesday, February 11th. Citigroup decreased their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Robert W. Baird decreased their price target on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Northland Securities reissued 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Stock Up 5.2 %

Shares of NASDAQ SPSC opened at $129.43 on Friday. SPS Commerce, Inc. has a 52 week low of $122.58 and a 52 week high of $218.61. The firm’s fifty day moving average is $163.76 and its 200 day moving average is $180.25. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 63.45 and a beta of 0.92.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Equities research analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current 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.