Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,017 shares of the software maker’s stock after selling 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SPS Commerce were worth $1,508,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 58,525 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of SPS Commerce by 2.4% in the second quarter. Conestoga Capital Advisors LLC now owns 1,227,411 shares of the software maker’s stock worth $230,950,000 after buying an additional 28,970 shares during the period. Congress Asset Management Co. MA increased its holdings in SPS Commerce by 1.5% during the 1st quarter. Congress Asset Management Co. MA now owns 843,310 shares of the software maker’s stock valued at $155,928,000 after purchasing an additional 12,397 shares during the period. William Blair Investment Management LLC increased its holdings in SPS Commerce by 2.9% during the 1st quarter. William Blair Investment Management LLC now owns 597,662 shares of the software maker’s stock valued at $110,508,000 after purchasing an additional 17,012 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in SPS Commerce by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 492,802 shares of the software maker’s stock valued at $95,527,000 after purchasing an additional 7,179 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SPSC shares. Redburn Atlantic started coverage on SPS Commerce in a report on Tuesday, May 14th. They set a “buy” rating and a $220.00 price target on the stock. Robert W. Baird boosted their price target on SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, August 2nd. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Finally, Stifel Nicolaus upped their target price on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $220.25.

Insider Transactions at SPS Commerce

In related news, Director Philip Soran sold 3,285 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $200.06, for a total value of $657,197.10. Following the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the transaction, the director now directly owns 16,212 shares of the company’s stock, valued at approximately $3,264,286.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip Soran sold 3,285 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $200.06, for a total value of $657,197.10. Following the completion of the transaction, the director now directly owns 18,852 shares in the company, valued at $3,771,531.12. The disclosure for this sale can be found here. Insiders have sold a total of 7,675 shares of company stock valued at $1,551,735 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

SPS Commerce Stock Up 0.7 %

Shares of SPSC opened at $199.74 on Monday. The business’s 50 day moving average price is $197.26 and its 200-day moving average price is $188.30. SPS Commerce, Inc. has a 52 week low of $151.96 and a 52 week high of $218.74. The stock has a market cap of $7.41 billion, a P/E ratio of 109.15 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $151.87 million. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts anticipate that SPS Commerce, Inc. will post 2.33 EPS for the current year.

SPS Commerce 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.