Principal Financial Group Inc. Buys 7,334 Shares of SPS Commerce, Inc. $SPSC

Principal Financial Group Inc. raised its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,986 shares of the software maker’s stock after buying an additional 7,334 shares during the quarter. Principal Financial Group Inc.’s holdings in SPS Commerce were worth $22,285,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in shares of SPS Commerce by 95.6% during the second quarter. Bank of Montreal Can now owns 24,403 shares of the software maker’s stock valued at $3,321,000 after purchasing an additional 11,927 shares during the last quarter. Fenimore Asset Management Inc boosted its holdings in SPS Commerce by 17.8% in the third quarter. Fenimore Asset Management Inc now owns 145,888 shares of the software maker’s stock worth $15,193,000 after purchasing an additional 22,036 shares during the last quarter. Buckhead Capital Management LLC grew its position in SPS Commerce by 284.7% in the 3rd quarter. Buckhead Capital Management LLC now owns 35,945 shares of the software maker’s stock worth $3,743,000 after purchasing an additional 26,602 shares during the period. Caxton Associates LLP purchased a new stake in SPS Commerce during the 2nd quarter valued at $2,007,000. Finally, Quantbot Technologies LP lifted its holdings in shares of SPS Commerce by 125.7% during the 2nd quarter. Quantbot Technologies LP now owns 26,154 shares of the software maker’s stock valued at $3,559,000 after buying an additional 14,567 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on SPSC shares. Wall Street Zen lowered SPS Commerce from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Cantor Fitzgerald cut shares of SPS Commerce from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $80.00 in a report on Friday, October 31st. Stifel Nicolaus reissued a “hold” rating and issued a $80.00 target price (down from $150.00) on shares of SPS Commerce in a report on Friday, October 31st. DA Davidson dropped their target price on shares of SPS Commerce from $125.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective (down previously from $160.00) on shares of SPS Commerce in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.80.

SPS Commerce Trading Up 0.7%

SPS Commerce stock opened at $79.53 on Friday. SPS Commerce, Inc. has a 12-month low of $73.05 and a 12-month high of $181.73. The firm has a 50-day moving average price of $88.71 and a 200-day moving average price of $99.10. The firm has a market capitalization of $3.00 billion, a PE ratio of 35.66 and a beta of 0.56.

Insider Transactions at SPS Commerce

In other SPS Commerce news, Director Marty M. Reaume sold 1,732 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $92.26, for a total transaction of $159,794.32. Following the completion of the transaction, the director owned 9,158 shares in the company, valued at $844,917.08. The trade was a 15.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by insiders.

SPS Commerce Profile

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company’s platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.