Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 1,081 SPS Commerce, Inc. (NASDAQ:SPSC)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,081 shares of the software maker’s stock, valued at approximately $210,000.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its holdings in SPS Commerce by 2,099.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after acquiring an additional 92,381 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of SPS Commerce by 662.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock valued at $17,065,000 after purchasing an additional 78,805 shares during the last quarter. F M Investments LLC acquired a new stake in shares of SPS Commerce during the second quarter worth $13,869,000. Hantz Financial Services Inc. bought a new position in SPS Commerce during the second quarter worth $12,876,000. Finally, Conestoga Capital Advisors LLC lifted its holdings 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 period. Institutional investors own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus increased their price target on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Robert W. Baird boosted their price target on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Finally, Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target on the stock. Six investment 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, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $220.78.

SPS Commerce Stock Up 0.3 %

Shares of SPSC opened at $193.07 on Monday. The business’s fifty day moving average is $186.56 and its 200 day moving average is $191.20. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The stock has a market cap of $7.25 billion, a P/E ratio of 92.38 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current year.

SPS Commerce 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.