SPS Commerce, Inc. (NASDAQ:SPSC) Shares Acquired by Millennium Management LLC

Millennium Management LLC boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 4.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 97,036 shares of the software maker’s stock after acquiring an additional 4,045 shares during the period. Millennium Management LLC owned about 0.26% of SPS Commerce worth $18,258,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Mather Group LLC. grew its position in shares of SPS Commerce by 800.0% in the second 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 period. Opal Wealth Advisors LLC purchased a new stake in SPS Commerce in the 2nd quarter valued at about $30,000. UMB Bank n.a. grew its holdings in SPS Commerce by 224.7% in the 1st quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock valued at $44,000 after buying an additional 164 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of SPS Commerce during the 1st quarter valued at about $60,000. Finally, DT Investment Partners LLC purchased a new position in shares of SPS Commerce during the 2nd quarter worth about $63,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on SPSC. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus increased their target price on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Craig Hallum boosted their price target on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.25.

SPS Commerce Price Performance

NASDAQ:SPSC opened at $190.32 on Friday. The business’s 50-day moving average is $194.76 and its two-hundred day moving average is $189.37. The firm has a market capitalization of $7.06 billion, a PE ratio of 104.00 and a beta of 0.82. SPS Commerce, Inc. has a 12 month low of $151.96 and a 12 month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Equities analysts anticipate that SPS Commerce, Inc. will post 2.32 EPS for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Philip Soran sold 3,285 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $200.06, for a total transaction of $657,197.10. Following the completion of the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the sale, the director now directly owns 16,212 shares in the company, valued at $3,264,286.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,675 shares of company stock valued at $1,551,735. Corporate 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.