Seven Eight Capital LP Makes New $876,000 Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

Seven Eight Capital LP bought a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,658 shares of the software maker’s stock, valued at approximately $876,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mather Group LLC. grew its holdings in SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of SPS Commerce during the second quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in shares of SPS Commerce by 224.7% in the first quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock valued at $44,000 after purchasing an additional 164 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of SPS Commerce in the first quarter valued at approximately $60,000. Finally, DT Investment Partners LLC bought a new position in SPS Commerce in the 2nd quarter worth approximately $63,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC opened at $195.33 on Friday. The company has a 50 day moving average price of $197.70 and a two-hundred day moving average price of $188.65. The company has a market capitalization of $7.23 billion, a PE ratio of 106.74 and a beta of 0.82. SPS Commerce, Inc. has a 52 week low of $151.96 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of recent research reports. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $205.00 to $209.00 in a research report on Monday, July 29th. DA Davidson boosted their price objective on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Craig Hallum raised their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus boosted their price target on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Robert W. Baird raised their price objective on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

Insider Buying and Selling at SPS Commerce

In other news, Director Philip Soran sold 3,285 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.06, for a total transaction of $657,197.10. Following the completion of the sale, the director now owns 18,852 shares of the company’s stock, valued at $3,771,531.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SPS Commerce 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 value of $402,700.00. Following 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip Soran sold 3,285 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $200.06, for a total value of $657,197.10. Following the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,675 shares of company stock valued at $1,551,735. 1.00% of the stock is currently owned by corporate insiders.

About SPS Commerce

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.