ClariVest Asset Management LLC Invests $2.30 Million in SPS Commerce, Inc. (SPSC) Stock
ClariVest Asset Management LLC purchased a new position in SPS Commerce, Inc. (NASDAQ:SPSC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 23,208 shares of the software maker’s stock, valued at approximately $2,304,000. ClariVest Asset Management LLC owned approximately 0.13% of SPS Commerce at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its stake in SPS Commerce by 10.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,563 shares of the software maker’s stock worth $850,000 after purchasing an additional 827 shares in the last quarter. Perkins Capital Management Inc. increased its stake in SPS Commerce by 4.3% in the 2nd quarter. Perkins Capital Management Inc. now owns 20,850 shares of the software maker’s stock worth $1,532,000 after purchasing an additional 850 shares in the last quarter. SG Americas Securities LLC increased its stake in SPS Commerce by 46.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,022 shares of the software maker’s stock worth $222,000 after purchasing an additional 962 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in SPS Commerce in the 3rd quarter worth about $114,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in SPS Commerce in the 3rd quarter worth about $119,000. 98.09% of the stock is currently owned by hedge funds and other institutional investors.
SPSC has been the subject of a number of research reports. Craig Hallum restated a “buy” rating and set a $88.00 price objective (up from $77.00) on shares of SPS Commerce in a research report on Tuesday, July 24th. BidaskClub lowered SPS Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday. Canaccord Genuity raised their price objective on SPS Commerce from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. ValuEngine lowered SPS Commerce from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of SPS Commerce in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.56.
In other news, CEO Archie C. Black sold 31,932 shares of SPS Commerce stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $96.06, for a total transaction of $3,067,387.92. Following the completion of the sale, the chief executive officer now directly owns 122,256 shares in the company, valued at approximately $11,743,911.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Archie C. Black sold 1,997 shares of SPS Commerce stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $95.08, for a total value of $189,874.76. Following the sale, the chief executive officer now owns 92,321 shares of the company’s stock, valued at $8,777,880.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,561 shares of company stock valued at $4,581,581. 3.60% of the stock is owned by corporate insiders.
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SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
Further Reading: Cost of Capital Explained
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