Sanctuary Advisors LLC Invests $517,000 in SPS Commerce, Inc. (NASDAQ:SPSC)

Sanctuary Advisors LLC purchased a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,889 shares of the software maker’s stock, valued at approximately $517,000.

Other hedge funds have also added to or reduced their stakes in the company. Norden Group LLC lifted its stake in SPS Commerce by 2,034.7% during the first quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after purchasing an additional 201,764 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of SPS Commerce by 2,099.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock worth $18,211,000 after buying an additional 92,381 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in SPS Commerce by 662.8% in the second quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock valued at $17,065,000 after buying an additional 78,805 shares in the last quarter. F M Investments LLC bought a new position in SPS Commerce in the second quarter valued at about $13,869,000. Finally, Hantz Financial Services Inc. acquired a new position in SPS Commerce during the second quarter worth about $12,876,000. 98.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SPSC shares. Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and raised their price target for the company from $205.00 to $209.00 in a research note on Monday, July 29th. Northland Capmk lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, August 2nd. DA Davidson increased their price target on SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

SPS Commerce Stock Up 0.0 %

Shares of SPS Commerce stock opened at $195.82 on Wednesday. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 107.01 and a beta of 0.82. SPS Commerce, Inc. has a twelve month low of $151.96 and a twelve month high of $218.74. The company’s fifty day moving average is $193.57 and its 200 day moving average is $189.93.

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

Insider Buying and Selling at SPS Commerce

In other news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction that occurred 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 approximately $3,264,286.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.