Engineers Gate Manager LP Invests $1.25 Million in SPS Commerce, Inc. (SPSC) Stock

Engineers Gate Manager LP acquired a new position in SPS Commerce, Inc. (NASDAQ:SPSC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,562 shares of the software maker’s stock, valued at approximately $1,247,000. Engineers Gate Manager LP owned 0.07% of SPS Commerce at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its holdings in SPS Commerce by 7.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 30,293 shares of the software maker’s stock valued at $3,006,000 after buying an additional 2,086 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in SPS Commerce during the third quarter valued at approximately $114,000. Acadian Asset Management LLC increased its holdings in SPS Commerce by 380.4% during the third quarter. Acadian Asset Management LLC now owns 99,236 shares of the software maker’s stock valued at $9,848,000 after buying an additional 78,581 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in SPS Commerce by 214.9% during the third quarter. Public Employees Retirement Association of Colorado now owns 3,857 shares of the software maker’s stock valued at $383,000 after buying an additional 2,632 shares during the period. Finally, CWM LLC increased its holdings in SPS Commerce by 37.5% during the third quarter. CWM LLC now owns 49,161 shares of the software maker’s stock valued at $4,879,000 after buying an additional 13,417 shares during the period. 94.41% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on SPSC shares. BidaskClub raised shares of SPS Commerce from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 18th. Oppenheimer lifted their price objective on shares of SPS Commerce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, October 26th. Benchmark raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a report on Friday, July 27th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price objective on shares of SPS Commerce in a report on Friday, July 27th. Finally, Stifel Nicolaus lifted their price objective on shares of SPS Commerce from $82.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $90.56.

In other SPS Commerce news, Director Martin J. Leestma sold 5,316 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $99.35, for a total value of $528,144.60. Following the completion of the sale, the director now directly owns 20,935 shares in the company, valued at $2,079,892.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Archie C. Black sold 31,932 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $96.06, for a total transaction of $3,067,387.92. Following the completion of the sale, the chief executive officer now owns 122,256 shares of the company’s stock, valued at $11,743,911.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,561 shares of company stock valued at $4,581,581. 2.80% of the stock is owned by insiders.

Shares of SPSC opened at $96.41 on Friday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 229.55, a PEG ratio of 3.62 and a beta of 0.78. SPS Commerce, Inc. has a twelve month low of $45.02 and a twelve month high of $100.68.

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SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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