SPS Commerce, Inc. (NASDAQ:SPSC) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp boosted its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,430 shares of the software maker’s stock after buying an additional 115 shares during the quarter. Synovus Financial Corp’s holdings in SPS Commerce were worth $1,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of SPS Commerce by 209.6% during the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in SPS Commerce by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker’s stock worth $88,576,000 after buying an additional 16,272 shares in the last quarter. Mutual of America Capital Management LLC increased its position in SPS Commerce by 2.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker’s stock worth $1,047,000 after buying an additional 110 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after acquiring an additional 104,210 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after acquiring an additional 210,284 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Stock Up 0.4 %

Shares of NASDAQ SPSC opened at $130.75 on Wednesday. The stock has a market capitalization of $4.97 billion, a PE ratio of 64.09 and a beta of 0.89. The firm has a fifty day moving average of $135.82 and a 200-day moving average of $169.51. SPS Commerce, Inc. has a 52-week low of $120.09 and a 52-week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Equities research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the sale, the executive vice president now owns 1,367,584 shares of the company’s stock, valued at $202,429,783.68. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the sale, the chief executive officer now owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,864 shares of company stock valued at $6,613,078. 0.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SPSC. Northland Securities reiterated a “market perform” rating and set a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Stifel Nicolaus cut their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. DA Davidson decreased their target price on shares of SPS Commerce from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of SPS Commerce in a research note on Wednesday, March 26th. Finally, Piper Sandler reduced their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.89.

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.