Quest Partners LLC Has $2.34 Million Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Quest Partners LLC increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 85.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,028 shares of the software maker’s stock after purchasing an additional 5,553 shares during the period. Quest Partners LLC’s holdings in SPS Commerce were worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc acquired a new position in SPS Commerce in the 3rd quarter worth $210,000. Zions Bancorporation N.A. lifted its position in SPS Commerce by 16.8% during the 3rd quarter. Zions Bancorporation N.A. now owns 13,591 shares of the software maker’s stock worth $2,639,000 after buying an additional 1,959 shares in the last quarter. Huntington National Bank lifted its position in SPS Commerce by 63.0% during the 3rd quarter. Huntington National Bank now owns 445 shares of the software maker’s stock worth $86,000 after buying an additional 172 shares in the last quarter. KBC Group NV lifted its position in SPS Commerce by 14.6% during the 3rd quarter. KBC Group NV now owns 1,076 shares of the software maker’s stock worth $209,000 after buying an additional 137 shares in the last quarter. Finally, Parametrica Management Ltd bought a new stake in SPS Commerce during the 3rd quarter worth about $404,000. 98.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SPSC shares. DA Davidson boosted their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a report on Friday, October 25th. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and upped their target price for the company from $205.00 to $209.00 in a report on Monday, July 29th. Stifel Nicolaus upped their target price 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 upped their target price 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. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $223.63.

SPS Commerce Trading Down 1.8 %

Shares of SPSC opened at $176.59 on Monday. SPS Commerce, Inc. has a 12 month low of $160.58 and a 12 month high of $218.74. The firm’s 50 day moving average is $187.26 and its 200-day moving average is $191.43. The stock has a market capitalization of $6.63 billion, a PE ratio of 84.49 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 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 company had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. During the same period last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts predict that SPS Commerce, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Activity at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce 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 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 legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

SPS Commerce 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.