SPS Commerce, Inc. (NASDAQ:SPSC) Holdings Lifted by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 94.5% in the 3rd quarter, Holdings Channel reports. The fund owned 432,801 shares of the software maker’s stock after purchasing an additional 210,284 shares during the period. Franklin Resources Inc.’s holdings in SPS Commerce were worth $84,747,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of SPS Commerce by 1.1% during the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after buying an additional 16,357 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of SPS Commerce by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after acquiring an additional 21,170 shares in the last quarter. Geode Capital Management LLC boosted its position in SPS Commerce by 1.5% during the third quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock valued at $182,287,000 after purchasing an additional 14,174 shares during the last quarter. FMR LLC grew its stake in 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in SPS Commerce by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after purchasing an additional 12,552 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

SPS Commerce Price Performance

SPS Commerce stock opened at $192.38 on Monday. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The firm has a fifty day moving average price of $187.10 and a two-hundred day moving average price of $191.19. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 92.05 and a beta of 0.86.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts expect that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.

SPS Commerce Company 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.