Zions Bancorporation N.A. Buys 1,959 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Zions Bancorporation N.A. boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 16.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,591 shares of the software maker’s stock after buying an additional 1,959 shares during the quarter. Zions Bancorporation N.A.’s holdings in SPS Commerce were worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado raised its position in shares of SPS Commerce by 2,099.1% in 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 purchasing an additional 92,381 shares during the period. Assenagon Asset Management S.A. raised 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 acquiring an additional 78,805 shares during the period. F M Investments LLC bought a new position in shares of SPS Commerce in the second quarter worth $13,869,000. Hantz Financial Services Inc. purchased a new position in shares of SPS Commerce in the second quarter valued at $12,876,000. Finally, Vanguard Group Inc. raised its stake in shares of SPS Commerce by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock valued at $803,798,000 after purchasing an additional 58,525 shares during the period. 98.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

SPS Commerce Price Performance

Shares of NASDAQ SPSC opened at $186.67 on Thursday. The stock has a market capitalization of $7.01 billion, a P/E ratio of 89.32 and a beta of 0.84. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74. The firm’s 50 day simple moving average is $187.62 and its two-hundred day simple moving average is $191.35.

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

Wall Street Analysts Forecast Growth

SPSC has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Stifel Nicolaus increased their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. DA Davidson upped their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Craig Hallum lifted their price objective on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and an average price target of $223.63.

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.