Victory Capital Management Inc. Buys 4,115 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Victory Capital Management Inc. increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 33.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,424 shares of the software maker’s stock after acquiring an additional 4,115 shares during the period. Victory Capital Management Inc.’s holdings in SPS Commerce were worth $3,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mather Group LLC. raised its position 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 bought a new position in SPS Commerce during the 2nd quarter valued at approximately $30,000. Blue Trust Inc. raised its position in SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. DT Investment Partners LLC bought a new position in SPS Commerce during the 2nd quarter valued at approximately $63,000. Finally, Signaturefd LLC raised its position in SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

SPSC has been the subject of several research reports. Robert W. Baird increased their target price on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $205.00 to $209.00 in a research report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Stifel Nicolaus upped their price target on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $223.63.

SPS Commerce Trading Up 1.5 %

Shares of SPSC opened at $189.13 on Friday. The business’s fifty day simple moving average is $186.64 and its two-hundred day simple moving average is $191.24. SPS Commerce, Inc. has a 12 month low of $160.58 and a 12 month high of $218.74. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 90.49 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same period last year, the business posted $0.53 EPS. The company’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts forecast that SPS Commerce, Inc. will post 2.39 EPS for the current year.

Insider Activity

In other news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

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.