Citigroup Inc. Purchases 19,618 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Citigroup Inc. lifted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 56.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,451 shares of the software maker’s stock after acquiring an additional 19,618 shares during the quarter. Citigroup Inc. owned approximately 0.14% of SPS Commerce worth $10,573,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SPSC. Quadrature Capital Ltd acquired a new position in SPS Commerce in the first quarter worth $329,000. Janus Henderson Group PLC grew its holdings in SPS Commerce by 1.7% during the 1st 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. Cetera Advisors LLC acquired a new stake in SPS Commerce in the 1st quarter valued at about $465,000. Moody National Bank Trust Division raised its stake in shares of SPS Commerce by 4.8% in the second quarter. Moody National Bank Trust Division now owns 14,255 shares of the software maker’s stock worth $2,682,000 after acquiring an additional 650 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on SPSC shares. Piper Sandler started coverage on shares of SPS Commerce in a research report on Monday. They issued a “neutral” rating and a $198.00 price objective for the company. Stifel Nicolaus upped their price target on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and an average target price of $220.78.

SPS Commerce Stock Performance

SPSC opened at $192.57 on Friday. The firm’s fifty day moving average is $186.66 and its two-hundred day moving average is $191.27. The firm has a market cap of $7.23 billion, a PE ratio of 92.14 and a beta of 0.84. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

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.