Short Interest in SPS Commerce, Inc. (NASDAQ:SPSC) Rises By 18.5%

SPS Commerce, Inc. (NASDAQ:SPSC) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 956,000 shares, a growth of 18.5% from the November 15th total of 806,500 shares. Based on an average daily volume of 207,300 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Upgrades and Downgrades

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

Insider Transactions at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its position in SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after purchasing an additional 210,284 shares during the period. FMR LLC raised its stake in shares of SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares during the period. Public Employees Retirement Association of Colorado lifted its position in shares of 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 worth $18,211,000 after purchasing an additional 92,381 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of SPS Commerce in the third quarter valued at $17,128,000. Finally, Assenagon Asset Management S.A. grew its holdings in SPS Commerce by 662.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock valued at $17,065,000 after purchasing an additional 78,805 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Price Performance

SPSC stock traded down $4.76 during midday trading on Friday, hitting $192.38. The stock had a trading volume of 197,882 shares, compared to its average volume of 174,024. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74. The firm has a market cap of $7.23 billion, a PE ratio of 92.05 and a beta of 0.86. The company’s 50-day moving average price is $187.10 and its 200 day moving average price is $191.19.

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. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. During the same period last year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that SPS Commerce will post 2.38 EPS for the current 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.