Magnetar Financial LLC Raises Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Magnetar Financial LLC increased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 20.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,348 shares of the software maker’s stock after acquiring an additional 575 shares during the quarter. Magnetar Financial LLC’s holdings in SPS Commerce were worth $616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in SPS Commerce by 33.4% during the third quarter. Victory Capital Management Inc. now owns 16,424 shares of the software maker’s stock valued at $3,189,000 after purchasing an additional 4,115 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in SPS Commerce during the third quarter valued at about $210,000. Pathstone Holdings LLC raised its position in SPS Commerce by 0.3% during the third quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock valued at $3,820,000 after purchasing an additional 54 shares in the last quarter. Avior Wealth Management LLC raised its position in SPS Commerce by 1,358.3% during the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in SPS Commerce during the third quarter valued at about $210,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the transaction, the chief financial officer now owns 156,292 shares in the company, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the transaction, the chief executive officer now owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock worth $6,613,078 in the last 90 days. Company insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $130.13 on Friday. SPS Commerce, Inc. has a 1 year low of $122.58 and a 1 year high of $218.61. The company has a market cap of $4.92 billion, a PE ratio of 63.79 and a beta of 0.92. The stock’s 50-day moving average is $157.25 and its 200 day moving average is $177.36.

SPS Commerce (NASDAQ:SPSC) last announced 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%. Analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of research reports. Citigroup lowered their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Piper Sandler lowered their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Northland Securities reiterated a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Stifel Nicolaus lowered their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Needham & Company LLC lowered their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Company 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.