Huntington National Bank has sold its interest in SPS Commerce, Inc. (NASDAQ:SPSC – Free Report) expanded 63.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 445 shares of the software maker, after buying an additional 172 shares during the period. Huntington National Bank’s stake in SPS Commerce was worth $86,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in SPS Commerce by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock worth $803,798,000 after acquiring an additional 58,525 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of SPS Commerce by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after purchasing an additional 21,170 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of SPS Commerce by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after purchasing an additional 12,552 shares in the last quarter. Geneva Capital Management LLC increased its holdings 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 purchasing an additional 1,994 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in 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 purchasing an additional 22,928 shares in the last quarter. 98.96% of the shares are currently held by institutional investors.
Analyst upgrades and downgrades
A number of brokers have recently released reports on SPSC. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $205.00 to $209.00 in a report on Monday, July 29. 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 28. Craig Hallum raised his price objective on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 26. Needham & Company LLC re-rated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research report on Friday, October 25. Finally, Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $223.63.
Check out our latest analysis on SPS Commerce
SPS Commerce shares fell 0.2%
Shares of SPS Commerce opened at $176.26 on Tuesday. 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 $6.62 billion, a price-to-earnings ratio of 84.33 and a beta of 0.84. The company’s 50-day moving average price is $187.26 and its two-hundred-day moving average price is $191.43.
SPS Commerce (NASDAQ:SPSC – Get Free Report) published its latest quarterly results on Thursday, October 24. The software maker reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same quarter last year, the company posted earnings per share of $0.53. The company’s revenue rose 20.7% year over year this quarter. On average, sell-side analysts expect SPS Commerce, Inc. will post earnings per share of 2.39 for the current year.
Insider transactions at SPS Commerce
In other news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the CEO now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents an 11.16% drop in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the shares are owned by insiders.
About SPS Commerce
(Free report)
SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through SPS Commerce, a cloud-based platform that improves the way retailers, grocers, suppliers, distributors and logistics companies manage and fulfill omnichannel orders, optimize sell-through performance and automate new commerce relationships.
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