Mitsubishi UFJ Asset Management UK Ltd. Grows Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 75.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,000 shares of the software maker’s stock after acquiring an additional 3,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in SPS Commerce were worth $1,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPSC. Blue Trust Inc. raised its position in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Advisors Asset Management Inc. grew its stake in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. Signaturefd LLC raised its holdings in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after buying an additional 69 shares during the period. Avior Wealth Management LLC raised its holdings in shares of SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after buying an additional 326 shares during the period. Finally, Trust Co. of Vermont acquired a new position in SPS Commerce during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Robert W. Baird raised their price target 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. Piper Sandler started coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

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 sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

SPS Commerce Stock Up 2.3 %

Shares of NASDAQ SPSC opened at $195.48 on Wednesday. The stock’s 50 day moving average price is $188.22 and its two-hundred day moving average price is $191.33. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The stock has a market capitalization of $7.34 billion, a P/E ratio of 93.53 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, analysts anticipate that SPS Commerce, Inc. 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.