Convergence Investment Partners LLC Acquires New Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Convergence Investment Partners LLC acquired a new stake in SPS Commerce, Inc. (NASDAQ:SPSC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,663 shares of the software maker’s stock, valued at approximately $1,402,000. Convergence Investment Partners LLC owned 0.05% of SPS Commerce as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPSC. Mutual of America Capital Management LLC lifted its stake in shares of SPS Commerce by 21.3% in the first quarter. Mutual of America Capital Management LLC now owns 1,509 shares of the software maker’s stock valued at $70,000 after purchasing an additional 265 shares during the period. Advisors Asset Management Inc. raised its position in SPS Commerce by 41.7% during the fourth quarter. Advisors Asset Management Inc. now owns 1,437 shares of the software maker’s stock worth $80,000 after acquiring an additional 423 shares during the last quarter. Aigen Investment Management LP raised its position in SPS Commerce by 26.2% during the first quarter. Aigen Investment Management LP now owns 3,574 shares of the software maker’s stock worth $166,000 after acquiring an additional 741 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in SPS Commerce during the first quarter worth about $189,000. Finally, Bellecapital International Ltd. acquired a new position in SPS Commerce during the first quarter worth about $200,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.

SPSC has been the subject of a number of research reports. Zacks Investment Research cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Oppenheimer began coverage on shares of SPS Commerce in a research report on Friday. They set a “hold” rating for the company. BidaskClub downgraded shares of SPS Commerce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 15th. Craig Hallum lowered their price target on shares of SPS Commerce from $71.00 to $65.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of SPS Commerce in a report on Friday. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.11.

SPS Commerce stock traded up $1.85 during trading on Friday, reaching $75.17. The company had a trading volume of 340,551 shares, compared to its average volume of 183,047. SPS Commerce, Inc. has a 12-month low of $31.28 and a 12-month high of $77.59. The stock’s 50 day moving average price is $73.35 and its two-hundred day moving average price is $59.40. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 70.25, a PEG ratio of 4.94 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.68 and a current ratio of 4.68.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 30th. The software maker reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $75.57 million for the quarter, compared to analysts’ expectations of $74.39 million. SPS Commerce had a net margin of 13.23% and a return on equity of 11.72%. As a group, research analysts expect that SPS Commerce, Inc. will post 0.99 earnings per share for the current year.

In other news, CEO Archie C. Black sold 1,390 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $62.54, for a total transaction of $86,930.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip Soran sold 7,120 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $72.76, for a total transaction of $518,051.20. Following the transaction, the director now owns 23,030 shares of the company’s stock, valued at approximately $1,675,662.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,498 shares of company stock valued at $6,569,540. 7.20% of the stock is owned by insiders.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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