SPS Commerce, Inc. (NASDAQ:SPSC) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 341,875 shares of the software maker’s stock after buying an additional 63,962 shares during the quarter. Wellington Management Group LLP owned 0.92% of SPS Commerce worth $66,269,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in SPS Commerce during the fourth quarter worth $26,000. CVA Family Office LLC acquired a new stake in shares of SPS Commerce during the 4th quarter valued at about $44,000. Operose Advisors LLC purchased a new position in shares of SPS Commerce in the 3rd quarter valued at about $46,000. Parallel Advisors LLC increased its stake in shares of SPS Commerce by 52.9% in the 4th quarter. Parallel Advisors LLC now owns 338 shares of the software maker’s stock valued at $66,000 after purchasing an additional 117 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its position in SPS Commerce by 43.9% during the fourth quarter. RiverPark Advisors LLC now owns 354 shares of the software maker’s stock worth $69,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Up 2.3 %

Shares of NASDAQ SPSC opened at $186.13 on Friday. The stock has a market cap of $6.89 billion, a PE ratio of 101.71 and a beta of 0.83. SPS Commerce, Inc. has a 12-month low of $151.96 and a 12-month high of $218.74. The company has a 50-day moving average of $184.32 and a 200 day moving average of $184.51.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. The business had revenue of $149.58 million during the quarter, compared to analyst estimates of $146.50 million. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.23 EPS for the current fiscal year.

Analysts Set New Price Targets

SPSC has been the subject of a number of recent analyst reports. Redburn Atlantic started coverage on SPS Commerce in a research report on Tuesday, May 14th. They issued a “buy” rating and a $220.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 price objective on shares of SPS Commerce in a report on Friday, May 10th. StockNews.com lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. William Blair restated a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. Finally, Robert W. Baird lifted their price objective on SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.25.

Insiders Place Their Bets

In other news, Director James Burr Ramsey sold 6,567 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the transaction, the director now owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.