9,315 Shares in SPS Commerce, Inc. (NASDAQ:SPSC) Purchased by Synovus Financial Corp

Synovus Financial Corp bought a new stake in SPS Commerce, Inc. (NASDAQ:SPSC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 9,315 shares of the software maker’s stock, valued at approximately $1,809,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of SPS Commerce by 140.8% during the 3rd 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. Advisors Asset Management Inc. lifted its stake in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. DT Investment Partners LLC bought a new stake in SPS Commerce during the second quarter worth $63,000. Signaturefd LLC boosted its holdings in shares of SPS Commerce by 26.0% in the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of SPS Commerce by 1,358.3% in the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

SPS Commerce Stock Performance

SPSC stock opened at $192.38 on Monday. The company has a market capitalization of $7.23 billion, a P/E ratio of 92.05 and a beta of 0.86. The company has a fifty day moving average price of $187.10 and a 200-day moving average price of $191.19. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $160.30 million. During the same period last year, the company earned $0.53 EPS. SPS Commerce’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.

About SPS Commerce

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.