SPS Commerce, Inc. (NASDAQ:SPSC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 69.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 254,439 shares of the software maker’s stock after acquiring an additional 104,210 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.68% of SPS Commerce worth $49,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares during the period. AXA S.A. boosted its position in shares of SPS Commerce by 19.4% in the second quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock worth $5,530,000 after buying an additional 4,784 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of SPS Commerce during the third quarter valued at $3,178,000. Synovus Financial Corp acquired a new position in SPS Commerce during the third quarter valued at $1,809,000. Finally, Hsbc Holdings PLC lifted its stake in SPS Commerce by 448.2% in the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock worth $6,295,000 after acquiring an additional 27,376 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In other 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 sale, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

SPS Commerce Stock Up 2.2 %

Shares of SPSC stock opened at $186.85 on Friday. 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 $7.02 billion, a PE ratio of 89.40 and a beta of 0.88. The business’s 50 day moving average is $186.00 and its two-hundred day moving average is $191.39.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to analyst estimates 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 previous year, the business earned $0.53 EPS. As a group, equities analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on SPSC. Stifel Nicolaus lowered their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Friday. Piper Sandler began coverage on shares of SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective on the stock. Finally, Robert W. Baird lifted their target price on shares of 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.00.

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.