4.4% Stake of SPS Commerce Inc. (SPSC) Held by Wells Fargo & Company (b) Tax ID
Wells Fargo & Company (b) Tax ID recently disclosed that they own a 4.4% stake in SPS Commerce Inc. (NASDAQ:SPSC) in a Schedule 13G/A disclosure that was filed with the SEC on Wednesday, October 12th. The investor owns 748,809 shares of the stock worth $52,746,106. The filing is available through Edgar at this link.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of SPS Commerce by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,322 shares of the company’s stock valued at $141,000 after buying an additional 285 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of SPS Commerce by 265.6% in the third quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the company’s stock valued at $171,000 after buying an additional 1,697 shares during the period. Bank of Montreal Can bought a new stake in shares of SPS Commerce during the second quarter valued at about $180,000. Menta Capital LLC bought a new stake in shares of SPS Commerce during the second quarter valued at about $212,000. Finally, HBK Investments L P bought a new stake in shares of SPS Commerce during the first quarter valued at about $273,000.
Shares of SPS Commerce Inc. (NASDAQ:SPSC) opened at 70.44 on Wednesday. The company’s 50 day moving average is $69.42 and its 200-day moving average is $58.91. SPS Commerce Inc. has a 1-year low of $38.35 and a 1-year high of $77.19. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 251.57 and a beta of 1.17.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. SPS Commerce had a return on equity of 3.84% and a net margin of 2.73%. The firm had revenue of $474 million for the quarter, compared to analyst estimates of $47.06 million. During the same period last year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts anticipate that SPS Commerce Inc. will post $0.98 earnings per share for the current fiscal year.
Several analysts recently issued reports on SPSC shares. Needham & Company LLC boosted their price objective on shares of SPS Commerce from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, September 26th. Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Wednesday, August 3rd. Pacific Crest assumed coverage on shares of SPS Commerce in a research note on Thursday, September 29th. They set an “overweight” rating and a $85.00 price target on the stock. Finally, First Analysis assumed coverage on shares of SPS Commerce in a research note on Monday, September 26th. They set an “overweight” rating and a $86.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.25.
In other news, Director Michael A. Smerklo sold 580 shares of SPS Commerce stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $67.40, for a total value of $39,092.00. Following the transaction, the director now directly owns 760 shares of the company’s stock, valued at approximately $51,224. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Archie C. Black sold 10,000 shares of SPS Commerce stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $63.38, for a total value of $633,800.00. Following the completion of the transaction, the chief executive officer now directly owns 78,600 shares in the company, valued at $4,981,668. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.
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