Magnetar Financial LLC Acquires Shares of 4,195 SPS Commerce, Inc. (NASDAQ:SPSC)

Magnetar Financial LLC purchased a new stake in SPS Commerce, Inc. (NASDAQ:SPSC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,195 shares of the software maker’s stock, valued at approximately $789,000.

A number of other large investors also recently made changes to their positions in the stock. Shaker Investments LLC OH lifted its stake in shares of SPS Commerce by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock valued at $564,000 after purchasing an additional 50 shares during the period. Arkadios Wealth Advisors lifted its stake in shares of SPS Commerce by 1.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker’s stock valued at $707,000 after purchasing an additional 67 shares during the period. XTX Topco Ltd lifted its stake in shares of SPS Commerce by 4.9% in the 2nd quarter. XTX Topco Ltd now owns 1,744 shares of the software maker’s stock valued at $328,000 after purchasing an additional 82 shares during the period. Parkside Financial Bank & Trust lifted its stake 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 period. Finally, CWM LLC lifted its stake in shares of SPS Commerce by 25.3% in the 2nd quarter. CWM LLC now owns 431 shares of the software maker’s stock valued at $81,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Activity

In related news, Director Philip Soran sold 3,285 shares of SPS Commerce 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 completion of the transaction, the director now owns 18,852 shares in the company, valued at $3,771,531.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Philip Soran sold 3,285 shares of SPS Commerce 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 completion of the transaction, the director now owns 18,852 shares in the company, valued at $3,771,531.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction dated 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 owns 16,212 shares of the company’s stock, valued at approximately $3,264,286.20. The disclosure for this sale can be found here. Insiders sold 7,675 shares of company stock worth $1,551,735 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of NASDAQ SPSC opened at $195.10 on Wednesday. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 106.61 and a beta of 0.82. The business has a 50-day moving average of $197.27 and a 200-day moving average of $188.91. SPS Commerce, Inc. has a fifty-two week low of $151.96 and a fifty-two week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. SPS Commerce’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. On average, sell-side analysts expect that SPS Commerce, Inc. will post 2.32 EPS for the current year.

Analyst Upgrades and Downgrades

SPSC has been the topic of several research analyst reports. DA Davidson raised their price objective on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus lifted their price target on SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, July 26th. 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, August 2nd. Finally, Craig Hallum lifted their price target on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.25.

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.