State Street Corp Has $280.40 Million Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

State Street Corp lifted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,444,083 shares of the software maker’s stock after purchasing an additional 16,357 shares during the quarter. State Street Corp’s holdings in SPS Commerce were worth $280,398,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SPSC. Quadrature Capital Ltd acquired a new stake in shares of SPS Commerce in the 3rd quarter valued at $644,000. Quantinno Capital Management LP boosted its holdings in SPS Commerce by 8.3% in the third quarter. Quantinno Capital Management LP now owns 1,925 shares of the software maker’s stock valued at $374,000 after acquiring an additional 148 shares during the last quarter. Janus Henderson Group PLC increased its position in SPS Commerce by 4.3% in the third quarter. Janus Henderson Group PLC now owns 44,767 shares of the software maker’s stock worth $8,690,000 after purchasing an additional 1,858 shares during the period. Hilltop Holdings Inc. acquired a new position in SPS Commerce during the 3rd quarter valued at about $265,000. Finally, Holocene Advisors LP boosted its stake in shares of SPS Commerce by 322.6% in the 3rd quarter. Holocene Advisors LP now owns 16,171 shares of the software maker’s stock valued at $3,140,000 after purchasing an additional 12,344 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

SPSC has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Piper Sandler began coverage on SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

Insider Activity at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % 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. 1.00% of the stock is currently owned by insiders.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $197.89 on Wednesday. The company has a market capitalization of $7.43 billion, a P/E ratio of 94.68 and a beta of 0.86. The business has a 50-day moving average of $186.68 and a two-hundred day moving average of $191.13. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same period in the prior year, the business earned $0.53 EPS. SPS Commerce’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

SPS Commerce Company 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.