Handelsbanken Fonder AB Raises Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Handelsbanken Fonder AB lifted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,260 shares of the software maker’s stock after buying an additional 100 shares during the quarter. Handelsbanken Fonder AB’s holdings in SPS Commerce were worth $1,989,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of SPS Commerce during the 4th quarter worth approximately $26,000. NBC Securities Inc. purchased a new stake in SPS Commerce in the 3rd quarter valued at $35,000. RiverPark Advisors LLC purchased a new stake in SPS Commerce in the 3rd quarter valued at $42,000. CVA Family Office LLC purchased a new stake in SPS Commerce in the 4th quarter valued at $44,000. Finally, Operose Advisors LLC purchased a new stake in SPS Commerce in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,408 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the sale, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the sale, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James J. Frome sold 2,825 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $187.47, for a total transaction of $529,602.75. Following the sale, the chief operating officer now directly owns 56,930 shares in the company, valued at $10,672,667.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,688 shares of company stock valued at $12,122,275. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

SPSC has been the subject of several research reports. StockNews.com downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Citigroup started coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $205.00 price objective on shares of SPS Commerce in a research report on Friday. Finally, Robert W. Baird upped their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $196.57.

SPS Commerce Stock Up 5.6 %

NASDAQ:SPSC opened at $178.96 on Friday. SPS Commerce, Inc. has a fifty-two week low of $140.00 and a fifty-two week high of $218.74. The stock has a market cap of $6.64 billion, a PE ratio of 97.79 and a beta of 0.79. The firm’s fifty day simple moving average is $179.25 and its 200-day simple moving average is $179.04.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. Equities analysts anticipate that SPS Commerce, Inc. will post 2.13 earnings per share for the current year.

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.