Raymond James & Associates Boosts Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Raymond James & Associates increased its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,606 shares of the software maker’s stock after buying an additional 66 shares during the quarter. Raymond James & Associates owned about 0.20% of SPS Commerce worth $14,680,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mather Group LLC. grew its stake in SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of SPS Commerce during the second quarter worth about $30,000. Blue Trust Inc. boosted its position in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in SPS Commerce in the 1st quarter worth approximately $60,000. Finally, DT Investment Partners LLC purchased a new position in SPS Commerce during the 2nd quarter worth approximately $63,000. 98.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on SPSC shares. Robert W. Baird upped their price objective on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a report on Friday, July 26th. DA Davidson increased their price target on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Craig Hallum boosted their price objective on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, July 26th. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Finally, Stifel Nicolaus lifted their price target on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $223.38.

Insider Buying and Selling

In other news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce 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 sale, the director now owns 16,212 shares in the company, valued at $3,264,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 insiders.

SPS Commerce Trading Down 10.7 %

NASDAQ SPSC opened at $170.49 on Friday. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 88.80 and a beta of 0.82. The stock has a 50-day moving average of $192.69 and a 200 day moving average of $190.58. SPS Commerce, Inc. has a twelve month low of $151.96 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping 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 business 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 posted $0.42 EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts predict that SPS Commerce, Inc. will post 2.32 EPS 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.