Cubist Systematic Strategies LLC Increases Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Cubist Systematic Strategies LLC boosted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 156.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,724 shares of the software maker’s stock after purchasing an additional 15,093 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.07% of SPS Commerce worth $4,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SPSC. Mather Group LLC. raised its stake in shares of SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of SPS Commerce during the second quarter worth approximately $30,000. UMB Bank n.a. raised its stake in shares of SPS Commerce by 224.7% during the first quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after acquiring an additional 164 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of SPS Commerce during the first quarter worth approximately $60,000. Finally, DT Investment Partners LLC purchased a new position in shares of SPS Commerce during the second quarter worth approximately $63,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Up 0.5 %

NASDAQ:SPSC opened at $192.25 on Friday. The stock has a market cap of $7.13 billion, a P/E ratio of 105.05 and a beta of 0.82. The firm’s fifty day simple moving average is $196.44 and its 200 day simple moving average is $188.99. SPS Commerce, Inc. has a twelve month low of $151.96 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. On average, analysts expect that SPS Commerce, Inc. will post 2.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Friday, August 2nd. Craig Hallum lifted their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Stifel Nicolaus raised their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, DA Davidson raised their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip Soran sold 3,285 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.06, for a total value of $657,197.10. Following the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. Insiders have sold a total of 7,675 shares of company stock worth $1,551,735 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.