Franklin Resources Inc. Buys 45,913 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Franklin Resources Inc. lifted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,714 shares of the software maker’s stock after acquiring an additional 45,913 shares during the period. Franklin Resources Inc. owned 1.27% of SPS Commerce worth $88,079,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Cerity Partners LLC raised its holdings in SPS Commerce by 67.2% in the third quarter. Cerity Partners LLC now owns 3,786 shares of the software maker’s stock worth $735,000 after purchasing an additional 1,522 shares in the last quarter. FMR LLC raised its stake in shares of SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after acquiring an additional 104,769 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SPS Commerce by 7.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,631 shares of the software maker’s stock valued at $1,676,000 after acquiring an additional 614 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in SPS Commerce by 30.9% in the third quarter. Benjamin Edwards Inc. now owns 2,112 shares of the software maker’s stock valued at $410,000 after acquiring an additional 498 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in SPS Commerce by 322.6% in the third quarter. Holocene Advisors LP now owns 16,171 shares of the software maker’s stock worth $3,140,000 after purchasing an additional 12,344 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPSC has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of SPS Commerce in a research report on Wednesday, March 26th. Northland Securities reissued a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Piper Sandler cut their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Price Performance

NASDAQ:SPSC opened at $137.66 on Thursday. The company’s fifty day moving average price is $148.62 and its 200-day moving average price is $174.30. SPS Commerce, Inc. has a 1-year low of $122.58 and a 1-year high of $218.61. The firm has a market capitalization of $5.20 billion, a P/E ratio of 67.48 and a beta of 0.92.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Equities analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at $28,864,006.56. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the sale, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,864 shares of company stock valued at $6,613,078. 1.00% of the stock is owned by company insiders.

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.