Magnetar Financial LLC Acquires New Shares in SPS Commerce, Inc. (NASDAQ:SPSC)

Magnetar Financial LLC acquired a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,195 shares of the software maker’s stock, valued at approximately $789,000.

A number of other institutional investors have also recently bought and sold shares of SPSC. Public Sector Pension Investment Board lifted its position in shares of SPS Commerce by 8.3% in the second quarter. Public Sector Pension Investment Board now owns 81,441 shares of the software maker’s stock worth $15,324,000 after buying an additional 6,214 shares during the last quarter. Hancock Whitney Corp bought a new stake in shares of SPS Commerce during the 2nd quarter worth about $213,000. Sei Investments Co. boosted its stake in shares of SPS Commerce by 4.4% during the 2nd quarter. Sei Investments Co. now owns 120,368 shares of the software maker’s stock worth $22,649,000 after acquiring an additional 5,045 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of SPS Commerce during the 2nd quarter worth about $132,000. Finally, Benjamin Edwards Inc. boosted its stake in shares of SPS Commerce by 18.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,614 shares of the software maker’s stock worth $304,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SPSC shares. DA Davidson upped their price target on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus boosted their price objective on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $220.25.

SPS Commerce Trading Down 0.1 %

Shares of SPSC opened at $195.10 on Wednesday. SPS Commerce, Inc. has a 1 year low of $151.96 and a 1 year high of $218.74. The stock has a 50 day simple moving average of $197.27 and a 200-day simple moving average of $188.91. The stock has a market cap of $7.24 billion, a PE ratio of 106.61 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping 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 return on equity of 12.41% and a net margin of 12.31%. SPS Commerce’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Sven Wehrwein sold 2,000 shares of the 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 sale, the director now directly owns 16,212 shares in the company, valued at approximately $3,264,286.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Philip Soran sold 2,390 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the sale, the director now directly owns 18,852 shares in the company, valued at approximately $3,879,553.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sven Wehrwein sold 2,000 shares of the 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 $3,264,286.20. The disclosure for this sale can be found here. Insiders have sold a total of 7,675 shares of company stock worth $1,551,735 in the last three months. Insiders own 1.00% of the company’s stock.

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.