Quest Partners LLC Grows Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Quest Partners LLC grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 472.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,475 shares of the software maker’s stock after buying an additional 5,343 shares during the period. Quest Partners LLC’s holdings in SPS Commerce were worth $1,218,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mather Group LLC. raised its holdings in shares of SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of SPS Commerce during the second quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings in shares of SPS Commerce by 224.7% in the 1st quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after acquiring an additional 164 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of SPS Commerce in the 1st quarter worth approximately $60,000. Finally, DT Investment Partners LLC bought a new position in shares of SPS Commerce during the 2nd quarter valued at $63,000. 98.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPSC has been the subject of several recent research reports. Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and increased their target price for the company from $205.00 to $209.00 in a report on Monday, July 29th. Robert W. Baird lifted their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Redburn Atlantic began coverage on SPS Commerce in a research note on Tuesday, May 14th. They set a “buy” rating and a $220.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $220.25.

Insiders Place Their Bets

In related news, Director Philip Soran sold 3,285 shares of the business’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 SEC, which can be accessed through the SEC website. In other SPS Commerce 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 value of $657,197.10. Following the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the sale, the director now directly owns 16,212 shares in the company, valued at approximately $3,264,286.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,675 shares of company stock worth $1,551,735. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Stock Up 0.1 %

Shares of NASDAQ SPSC opened at $186.07 on Tuesday. The firm has a market cap of $6.90 billion, a P/E ratio of 101.68 and a beta of 0.82. The company has a 50 day moving average of $197.68 and a 200 day moving average of $188.35. SPS Commerce, Inc. has a twelve month low of $151.96 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released 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. 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 during the quarter, compared to analysts’ expectations of $151.87 million. During the same period in the previous year, the company earned $0.42 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities analysts expect that SPS Commerce, Inc. will post 2.32 earnings per share for the current fiscal year.

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.