Engineers Gate Manager LP acquired a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,562 shares of the software maker’s stock, valued at approximately $1,247,000.
Other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. raised its holdings in shares of SPS Commerce by 223.7% during the second quarter. Macquarie Group Ltd. now owns 2,564 shares of the software maker’s stock worth $188,000 after purchasing an additional 1,772 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of SPS Commerce during the second quarter worth $1,976,000. LPL Financial LLC purchased a new position in shares of SPS Commerce during the first quarter worth $217,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of SPS Commerce during the second quarter worth $270,000. Finally, Rhumbline Advisers raised its holdings in shares of SPS Commerce by 4.2% during the second quarter. Rhumbline Advisers now owns 41,185 shares of the software maker’s stock worth $3,026,000 after purchasing an additional 1,645 shares during the last quarter. 94.41% of the stock is owned by hedge funds and other institutional investors.
In other SPS Commerce news, Director Martin J. Leestma sold 5,316 shares of SPS Commerce stock in a transaction on Monday, September 17th. The shares were sold at an average price of $99.35, for a total value of $528,144.60. Following the completion of the transaction, the director now owns 20,935 shares of the company’s stock, valued at $2,079,892.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin J. Leestma sold 8,316 shares of SPS Commerce stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $95.74, for a total transaction of $796,173.84. Following the completion of the transaction, the director now directly owns 12,619 shares of the company’s stock, valued at approximately $1,208,143.06. The disclosure for this sale can be found here. Insiders sold 47,561 shares of company stock valued at $4,581,581 in the last ninety days. 2.80% of the stock is owned by corporate insiders.
SPSC opened at $96.41 on Friday. SPS Commerce, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $100.68. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 229.55, a PEG ratio of 3.62 and a beta of 0.78.
Several research analysts recently issued reports on SPSC shares. Craig Hallum reissued a “buy” rating and set a $88.00 target price (up previously from $77.00) on shares of SPS Commerce in a report on Tuesday, July 24th. Benchmark raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a report on Friday, July 27th. Stifel Nicolaus lifted their price objective on shares of SPS Commerce from $82.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 27th. Canaccord Genuity lifted their price objective on shares of SPS Commerce from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of SPS Commerce in a report on Friday, July 27th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $90.56.
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SPS Commerce Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
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