Cerity Partners LLC Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Cerity Partners LLC increased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 67.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,786 shares of the software maker’s stock after buying an additional 1,522 shares during the quarter. Cerity Partners LLC’s holdings in SPS Commerce were worth $735,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SPSC. Conestoga Capital Advisors LLC increased its position in shares of SPS Commerce by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock valued at $242,437,000 after acquiring an additional 21,170 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SPS Commerce by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock valued at $93,583,000 after purchasing an additional 12,552 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in SPS Commerce by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock worth $90,317,000 after purchasing an additional 8,186 shares in the last quarter. Geneva Capital Management LLC boosted its position in shares of SPS Commerce by 0.5% during the third quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker’s stock worth $86,170,000 after buying an additional 1,994 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of SPS Commerce by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 340,419 shares of the software maker’s stock valued at $64,053,000 after buying an additional 22,928 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Activity

In related 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 completion of the sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This trade represents a 11.16 % 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. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Stock Up 1.7 %

SPSC opened at $192.79 on Friday. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74. The business’s 50 day moving average is $186.52 and its two-hundred day moving average is $191.12. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 92.24 and a beta of 0.86.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Equities analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

SPSC has been the topic of several research reports. Piper Sandler began coverage on SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a report on Friday, October 25th. Stifel Nicolaus boosted their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird raised 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.78.

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.