Headlands Technologies LLC Boosts Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Headlands Technologies LLC grew its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 121.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,671 shares of the software maker’s stock after buying an additional 918 shares during the period. Headlands Technologies LLC’s holdings in SPS Commerce were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. raised its holdings in shares of SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of SPS Commerce during the second quarter worth $30,000. UMB Bank n.a. raised its holdings in shares of SPS Commerce by 224.7% during the first quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after purchasing an additional 164 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of SPS Commerce during the first quarter worth $60,000. Finally, DT Investment Partners LLC purchased a new position in shares of SPS Commerce during the second quarter worth $63,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a report on Friday, August 2nd. Craig Hallum raised their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Northland Capmk lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Robert W. Baird upped their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus raised their price objective on SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.25.

Insider Transactions at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were 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 in the company, valued at approximately $3,264,286.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the transaction, the director now directly owns 16,212 shares in the company, valued at approximately $3,264,286.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Philip Soran sold 2,390 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total value of $491,838.10. Following the transaction, the director now owns 18,852 shares in the company, valued at $3,879,553.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,675 shares of company stock valued at $1,551,735. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $192.85 on Friday. The stock has a market capitalization of $7.15 billion, a P/E ratio of 105.38 and a beta of 0.82. The business has a 50 day simple moving average of $197.43 and a two-hundred day simple moving average of $188.35. SPS Commerce, Inc. has a 12 month low of $151.96 and a 12 month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 17.8% 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.

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.