Envestnet Asset Management Inc. Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Envestnet Asset Management Inc. grew its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,341 shares of the software maker’s stock after purchasing an additional 2,060 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SPS Commerce were worth $41,459,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SPSC. Shaker Investments LLC OH grew its stake in SPS Commerce by 1.7% during the 2nd quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock worth $564,000 after buying an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of SPS Commerce by 10.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker’s stock worth $114,000 after acquiring an additional 56 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of SPS Commerce by 1.8% during the second quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker’s stock valued at $707,000 after acquiring an additional 67 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of SPS Commerce by 7.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the software maker’s stock valued at $226,000 after purchasing an additional 83 shares during the last quarter. Finally, CWM LLC boosted its stake in SPS Commerce by 25.3% in the 2nd quarter. CWM LLC now owns 431 shares of the software maker’s stock worth $81,000 after purchasing an additional 87 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SPS Commerce

In related news, Director Philip Soran sold 3,285 shares of SPS Commerce stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the transaction, the director now owns 18,852 shares in the company, valued at $3,771,531.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the transaction, the director now owns 16,212 shares of the company’s stock, valued at approximately $3,264,286.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Philip Soran sold 3,285 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the sale, the director now owns 18,852 shares of the company’s stock, 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 worth $1,551,735 in the last ninety days. Insiders own 1.00% of the company’s stock.

SPS Commerce Stock Performance

NASDAQ SPSC opened at $195.65 on Friday. The business has a fifty day moving average price of $197.81 and a 200 day moving average price of $188.61. The company has a market cap of $7.26 billion, a P/E ratio of 106.91 and a beta of 0.82. SPS Commerce, Inc. has a one year low of $151.96 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. During the same period last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts predict that SPS Commerce, Inc. will post 2.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPSC. Robert W. Baird upped their price target on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Craig Hallum raised their target price on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $205.00 to $209.00 in a research note on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research note on Friday, August 2nd. Finally, Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average target price of $220.25.

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.