Van ECK Associates Corp Boosts Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Van ECK Associates Corp lifted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 36.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,690 shares of the software maker’s stock after purchasing an additional 2,600 shares during the period. Van ECK Associates Corp’s holdings in SPS Commerce were worth $1,878,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPSC. Commonwealth Equity Services LLC lifted its stake in SPS Commerce by 18.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,940 shares of the software maker’s stock worth $331,000 after purchasing an additional 296 shares in the last quarter. Raymond James & Associates grew its holdings in shares of SPS Commerce by 1.6% during the third quarter. Raymond James & Associates now owns 103,669 shares of the software maker’s stock worth $17,687,000 after purchasing an additional 1,612 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of SPS Commerce by 3.9% in the third quarter. New York State Teachers Retirement System now owns 18,636 shares of the software maker’s stock worth $3,179,000 after purchasing an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SPS Commerce by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,095 shares of the software maker’s stock valued at $1,210,000 after purchasing an additional 854 shares in the last quarter. Finally, Strs Ohio lifted its position in SPS Commerce by 1.0% during the third quarter. Strs Ohio now owns 10,400 shares of the software maker’s stock valued at $1,774,000 after purchasing an additional 100 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SPSC has been the topic of several research reports. Citigroup started coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They set a “buy” rating and a $216.00 price objective on the stock. William Blair reiterated a “market perform” rating on shares of SPS Commerce in a report on Thursday, April 25th. Robert W. Baird raised their price objective on SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research note on Friday, April 26th. Finally, StockNews.com downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and an average price target of $196.57.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $188.13 on Thursday. SPS Commerce, Inc. has a one year low of $151.63 and a one year high of $218.74. The business’s 50 day simple moving average is $178.67 and its two-hundred day simple moving average is $180.01. The stock has a market capitalization of $6.97 billion, a P/E ratio of 102.80 and a beta of 0.81.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. The company had revenue of $144.97 million for the quarter, compared to the consensus estimate of $143.05 million. Sell-side analysts expect that SPS Commerce, Inc. will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Archie C. Black sold 8,723 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $181.56, for a total transaction of $1,583,747.88. Following the completion of the transaction, the director now directly owns 71,852 shares of the company’s stock, valued at $13,045,449.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Archie C. Black sold 8,723 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $181.56, for a total transaction of $1,583,747.88. Following the transaction, the director now directly owns 71,852 shares of the company’s stock, valued at $13,045,449.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO James J. Frome sold 2,901 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total value of $531,811.32. Following the transaction, the chief operating officer now owns 54,029 shares of the company’s stock, valued at approximately $9,904,596.28. The disclosure for this sale can be found here. Insiders have sold a total of 28,019 shares of company stock valued at $5,186,345 in the last quarter. Insiders own 1.00% of the company’s stock.

About SPS Commerce

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.