The Manufacturers Life Insurance Company Raises Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

The Manufacturers Life Insurance Company boosted its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,716 shares of the software maker’s stock after acquiring an additional 934 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of SPS Commerce worth $4,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of SPS Commerce by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock valued at $803,798,000 after purchasing an additional 58,525 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in SPS Commerce by 2.4% in the second quarter. Conestoga Capital Advisors LLC now owns 1,227,411 shares of the software maker’s stock valued at $230,950,000 after buying an additional 28,970 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in SPS Commerce by 1.5% in the first quarter. Congress Asset Management Co. MA now owns 843,310 shares of the software maker’s stock worth $155,928,000 after acquiring an additional 12,397 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of SPS Commerce by 2.9% during the first quarter. William Blair Investment Management LLC now owns 597,662 shares of the software maker’s stock worth $110,508,000 after acquiring an additional 17,012 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of SPS Commerce by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after acquiring an additional 12,552 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the company’s 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 transaction, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip Soran sold 3,285 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $200.06, for a total value of $657,197.10. Following the completion of the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at $3,771,531.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,675 shares of company stock worth $1,551,735. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SPSC. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. DA Davidson lifted their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Craig Hallum lifted their price target on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Friday, August 2nd. Five investment 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $220.25.

SPS Commerce Stock Down 0.3 %

Shares of SPSC stock opened at $189.69 on Tuesday. SPS Commerce, Inc. has a 52-week low of $151.96 and a 52-week high of $218.74. The stock has a market cap of $7.04 billion, a PE ratio of 103.66 and a beta of 0.82. The business has a 50-day simple moving average of $194.43 and a 200-day simple moving average of $189.45.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. SPS Commerce’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. Sell-side analysts anticipate that SPS Commerce, Inc. will post 2.32 earnings per share for the current fiscal year.

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.