CIBC Asset Management Inc Purchases New Position in SPS Commerce, Inc. (NASDAQ:SPSC)

CIBC Asset Management Inc acquired a new position in SPS Commerce, Inc. (NASDAQ:SPSC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,084 shares of the software maker’s stock, valued at approximately $210,000.

Other hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC raised its stake in SPS Commerce by 24.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,877 shares of the software maker’s stock valued at $717,000 after purchasing an additional 769 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of SPS Commerce by 11.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,875 shares of the software maker’s stock valued at $6,062,000 after buying an additional 3,340 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of SPS Commerce in the 1st quarter valued at about $329,000. BOKF NA grew its position in SPS Commerce by 89.8% in the first quarter. BOKF NA now owns 1,682 shares of the software maker’s stock worth $310,000 after acquiring an additional 796 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in SPS Commerce by 1.7% during the first quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker’s stock worth $9,117,000 after acquiring an additional 813 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Price Performance

Shares of SPSC stock opened at $189.13 on Friday. The company has a market capitalization of $7.11 billion, a P/E ratio of 90.22 and a beta of 0.84. The company’s 50-day simple moving average is $186.72 and its two-hundred day simple moving average is $191.24. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data 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. The company had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. SPS Commerce’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, research analysts expect that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SPSC shares. DA Davidson lifted their target price on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Northland Capmk lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their target price 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. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Finally, Robert W. Baird upped their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.63.

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.