Summit Investment Advisors Inc. Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Summit Investment Advisors Inc. boosted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,894 shares of the software maker’s stock after purchasing an additional 135 shares during the quarter. Summit Investment Advisors Inc.’s holdings in SPS Commerce were worth $716,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SPSC. SBI Securities Co. Ltd. acquired a new stake in SPS Commerce during the fourth quarter worth about $40,000. Hurley Capital LLC purchased a new position in shares of SPS Commerce during the 4th quarter valued at approximately $41,000. Blue Trust Inc. lifted its stake in shares of SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after purchasing an additional 84 shares during the period. R Squared Ltd purchased a new stake in SPS Commerce during the fourth quarter worth $57,000. Finally, Arcadia Investment Management Corp MI purchased a new position in SPS Commerce in the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SPSC has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of SPS Commerce in a report on Wednesday, March 26th. DA Davidson cut their price objective on SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus decreased their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Piper Sandler cut their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.89.

Insider Activity at SPS Commerce

In other news, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,864 shares of company stock valued at $6,613,078. 0.98% of the stock is owned by company insiders.

SPS Commerce Price Performance

SPSC opened at $129.06 on Friday. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 63.27 and a beta of 0.89. The company’s 50 day simple moving average is $133.87 and its two-hundred day simple moving average is $168.78. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61.

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

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.