Heritage Wealth Management LLC Boosts Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Heritage Wealth Management LLC boosted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 32.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 629 shares of the software maker’s stock after buying an additional 155 shares during the quarter. Heritage Wealth Management LLC’s holdings in SPS Commerce were worth $63,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of SPS Commerce by 7.6% during the first quarter. Geode Capital Management LLC now owns 646,230 shares of the software maker’s stock worth $64,177,000 after purchasing an additional 45,653 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of SPS Commerce during the first quarter worth about $2,086,000. Russell Investments Group Ltd. grew its holdings in shares of SPS Commerce by 27.5% during the first quarter. Russell Investments Group Ltd. now owns 64,710 shares of the software maker’s stock worth $6,424,000 after purchasing an additional 13,943 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of SPS Commerce by 7.3% during the second quarter. Mutual of America Capital Management LLC now owns 5,099 shares of the software maker’s stock worth $509,000 after purchasing an additional 346 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of SPS Commerce by 8.5% during the second quarter. US Bancorp DE now owns 49,212 shares of the software maker’s stock worth $4,914,000 after purchasing an additional 3,873 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.

In other SPS Commerce news, CFO Kimberly K. Nelson sold 3,200 shares of the business’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $114.08, for a total value of $365,056.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $112.19, for a total transaction of $224,380.00. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Shares of SPSC opened at $167.80 on Friday. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 135.32 and a beta of 0.93. SPS Commerce, Inc. has a 1-year low of $73.56 and a 1-year high of $169.15. The firm has a 50 day simple moving average of $125.55 and a 200-day simple moving average of $108.53.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, July 29th. The software maker reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The firm had revenue of $94.54 million during the quarter, compared to analysts’ expectations of $91.25 million. SPS Commerce had a net margin of 13.02% and a return on equity of 10.28%. On average, equities analysts expect that SPS Commerce, Inc. will post 1.18 earnings per share for the current year.

Several equities research analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $150.00 target price (up previously from $120.00) on shares of SPS Commerce in a research note on Wednesday, September 1st. Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Friday, August 6th. Stifel Nicolaus raised their price objective on shares of SPS Commerce from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 7th. JMP Securities raised their price objective on shares of SPS Commerce from $120.00 to $130.00 and gave the company a “market outperform” rating in a research report on Friday, July 30th. Finally, Robert W. Baird raised their price objective on shares of SPS Commerce from $130.00 to $167.00 and gave the company an “outperform” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $137.75.

SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management services. The firm serves retailers, suppliers, grocers, distributors and logistics firms to orchestrate the management of item data, order fulfillment, inventory control and sales analytics across all channels. Its SPS Commerce cloud services platform offers Trading Partner Community, Fulfillment, Assortment, Analytics, Sourcing, and Other Trading Partner Solutions.

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

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