Zions Bancorporation N.A. Increases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Zions Bancorporation N.A. raised its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 16.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,591 shares of the software maker’s stock after acquiring an additional 1,959 shares during the period. Zions Bancorporation N.A.’s holdings in SPS Commerce were worth $2,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPSC. Mather Group LLC. boosted its position in shares of SPS Commerce by 800.0% during 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 in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of SPS Commerce in the 2nd quarter worth about $30,000. Blue Trust Inc. boosted its stake in SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. DT Investment Partners LLC bought a new stake in shares of SPS Commerce in the 2nd quarter worth approximately $63,000. Finally, Signaturefd LLC grew its stake in shares of SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Down 0.1 %

Shares of SPS Commerce stock opened at $186.67 on Thursday. The stock’s 50-day simple moving average is $187.62 and its 200-day simple moving average is $191.35. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 89.32 and a beta of 0.84. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The business had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, equities analysts expect that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on SPSC. Craig Hallum increased their target price on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird increased their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus increased their target price on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.63.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. 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 available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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.