Van ECK Associates Corp Acquires 7,871 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Van ECK Associates Corp lifted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 35.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,919 shares of the software maker’s stock after purchasing an additional 7,871 shares during the period. Van ECK Associates Corp owned about 0.08% of SPS Commerce worth $5,505,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Barclays PLC grew its holdings in shares of SPS Commerce by 209.6% in the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after purchasing an additional 44,946 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of SPS Commerce in the third quarter valued at $3,178,000. Synovus Financial Corp purchased a new position in shares of SPS Commerce in the third quarter valued at $1,809,000. JPMorgan Chase & Co. grew its holdings in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after purchasing an additional 104,210 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after purchasing an additional 16,357 shares in the last quarter. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $146.21 on Wednesday. The stock has a market cap of $5.49 billion, a P/E ratio of 69.96 and a beta of 0.88. SPS Commerce, Inc. has a twelve month low of $143.39 and a twelve month high of $218.61. The stock has a 50 day moving average of $183.99 and a two-hundred day moving average of $187.82.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. As a group, research analysts predict that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on SPSC shares. Needham & Company LLC cut their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Robert W. Baird decreased their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Citigroup decreased their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Stifel Nicolaus cut their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Northland Securities reiterated a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.11.

Insider Activity

In other news, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the sale, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,230 shares of company stock worth $6,379,187 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

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.