FORA Capital LLC Boosts Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

FORA Capital LLC boosted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 27.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,707 shares of the software maker’s stock after purchasing an additional 1,013 shares during the period. FORA Capital LLC’s holdings in SPS Commerce were worth $914,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SPSC. FMR LLC lifted its position in shares of SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after buying an additional 104,769 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in SPS Commerce by 2,099.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after acquiring an additional 92,381 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of SPS Commerce in the third quarter valued at about $17,128,000. Assenagon Asset Management S.A. grew its position in shares of SPS Commerce by 662.8% during the second quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock worth $17,065,000 after purchasing an additional 78,805 shares in the last quarter. Finally, F M Investments LLC bought a new stake in SPS Commerce during the 2nd quarter valued at approximately $13,869,000. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of NASDAQ SPSC opened at $192.57 on Friday. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The business’s 50 day moving average is $186.66 and its two-hundred day moving average is $191.27. The stock has a market capitalization of $7.23 billion, a P/E ratio of 92.14 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last released its earnings results 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 firm had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business’s revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. As a group, equities research analysts anticipate that SPS Commerce, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler began coverage on SPS Commerce in a research note on Monday. They issued a “neutral” rating and a $198.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research report on Friday, October 25th. Stifel Nicolaus lifted their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird increased their price objective 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. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.78.

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.