Public Employees Retirement System of Ohio Has $2.34 Million Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Public Employees Retirement System of Ohio boosted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 15,980.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,060 shares of the software maker’s stock after purchasing an additional 11,985 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in SPS Commerce were worth $2,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. boosted its holdings in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the period. DT Investment Partners LLC acquired a new stake in shares of SPS Commerce in the second quarter valued at about $63,000. Signaturefd LLC increased its stake in shares of SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after purchasing an additional 69 shares during the period. Finally, Avior Wealth Management LLC grew its holdings in SPS Commerce by 1,358.3% in 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 last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SPSC. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Stifel Nicolaus increased their price target 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. Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Piper Sandler initiated coverage on shares of SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price for the company. Six research 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.com, the company has an average rating of “Moderate Buy” and an average price target of $220.78.

SPS Commerce Stock Up 0.1 %

Shares of SPSC opened at $198.81 on Wednesday. The company has a 50-day moving average price of $187.28 and a two-hundred day moving average price of $191.26. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 95.23 and a beta of 0.86. SPS Commerce, Inc. has a 12 month low of $160.58 and a 12 month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 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%. SPS Commerce’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. Equities research analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 54,446 shares of the company’s stock, valued at $9,238,941.74. The trade was a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company 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.