Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SPS Commerce, Inc. (NASDAQ:SPSC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,525 shares of the software maker’s stock, valued at approximately $1,441,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of SPS Commerce at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in SPS Commerce by 15.6% in the third quarter. BlackRock Inc. now owns 2,756,839 shares of the software maker’s stock valued at $273,588,000 after acquiring an additional 371,408 shares during the last quarter. FMR LLC increased its stake in SPS Commerce by 19.8% in the second quarter. FMR LLC now owns 1,218,502 shares of the software maker’s stock valued at $89,536,000 after acquiring an additional 201,002 shares during the last quarter. Wells Fargo & Company MN increased its stake in SPS Commerce by 7.4% in the second quarter. Wells Fargo & Company MN now owns 553,841 shares of the software maker’s stock valued at $40,695,000 after acquiring an additional 38,323 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in SPS Commerce by 15.9% in the third quarter. Conestoga Capital Advisors LLC now owns 507,006 shares of the software maker’s stock valued at $50,315,000 after acquiring an additional 69,440 shares during the last quarter. Finally, Granahan Investment Management Inc. MA increased its stake in SPS Commerce by 19.2% in the second quarter. Granahan Investment Management Inc. MA now owns 363,241 shares of the software maker’s stock valued at $26,691,000 after acquiring an additional 58,611 shares during the last quarter. 93.55% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on SPSC shares. Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $106.00 target price on the stock in a research note on Thursday, November 1st. BidaskClub cut shares of SPS Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. ValuEngine cut shares of SPS Commerce from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 21st. TheStreet raised shares of SPS Commerce from a “c+” rating to a “b-” rating in a research note on Friday, October 26th. Finally, First Analysis set a $86.00 target price on shares of SPS Commerce and gave the stock a “neutral” rating in a research note on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. SPS Commerce currently has a consensus rating of “Buy” and an average price target of $90.56.
NASDAQ SPSC opened at $82.71 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 196.93, a P/E/G ratio of 3.20 and a beta of 0.78. SPS Commerce, Inc. has a fifty-two week low of $47.52 and a fifty-two week high of $100.68.
SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 25th. The software maker reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $62.87 million for the quarter, compared to analysts’ expectations of $61.61 million. SPS Commerce had a net margin of 3.16% and a return on equity of 5.55%. On average, sell-side analysts expect that SPS Commerce, Inc. will post 1.3 EPS for the current year.
In other news, Director Martin J. Leestma sold 8,316 shares of SPS Commerce stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $95.74, for a total transaction of $796,173.84. Following the transaction, the director now owns 12,619 shares in the company, valued at $1,208,143.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin J. Leestma sold 5,316 shares of SPS Commerce stock in a transaction on Monday, September 17th. The stock was sold at an average price of $99.35, for a total transaction of $528,144.60. Following the transaction, the director now owns 20,935 shares in the company, valued at approximately $2,079,892.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,561 shares of company stock worth $4,581,581. 2.80% of the stock is owned by company insiders.
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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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