Commerce Bank reduced its position in shares of SciQuest, Inc. (NASDAQ:SQI) by 0.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,210 shares of the company’s stock after selling 15 shares during the period. Commerce Bank’s holdings in SciQuest were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nationwide Fund Advisors raised its stake in shares of SciQuest by 6.7% in the second quarter. Nationwide Fund Advisors now owns 19,724 shares of the company’s stock worth $348,000 after buying an additional 1,231 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of SciQuest by 8.0% in the first quarter. Envestnet Asset Management Inc. now owns 25,130 shares of the company’s stock worth $349,000 after buying an additional 1,868 shares in the last quarter. Friess Associates LLC raised its stake in shares of SciQuest by 5.5% in the first quarter. Friess Associates LLC now owns 47,470 shares of the company’s stock worth $659,000 after buying an additional 2,470 shares in the last quarter. Algert Global LLC raised its stake in shares of SciQuest by 7.3% in the first quarter. Algert Global LLC now owns 36,343 shares of the company’s stock worth $504,000 after buying an additional 2,474 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of SciQuest by 5.2% in the first quarter. BlackRock Group LTD now owns 71,611 shares of the company’s stock worth $993,000 after buying an additional 3,527 shares in the last quarter.

SciQuest, Inc. (NASDAQ:SQI) opened at 17.745 on Friday. The stock’s 50 day moving average is $17.68 and its 200-day moving average is $14.48. SciQuest, Inc. has a one year low of $9.49 and a one year high of $17.81.

A number of analysts have weighed in on SQI shares. Canaccord Genuity restated a “hold” rating and issued a $17.75 target price on shares of SciQuest in a research report on Tuesday, May 31st. Raymond James Financial Inc. lowered shares of SciQuest from an “outperform” rating to a “market perform” rating and set a $19.50 target price on the stock. in a research report on Friday, June 24th. Northland Securities lowered shares of SciQuest from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 31st. Finally, William Blair lowered shares of SciQuest from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $17.08.

SciQuest Company Profile

SciQuest, Inc is a United States-based public provider of spend management solutions. The Company’s offers a range of solutions, such as Spend Director, Spend Radar, Sourcing Director, Advanced Sourcing Optimizer, Total Contract Manager, Total Supplier Manager, Enterprise Reagent Manager, Accounts Payable Director, Supplier Network and Portfolio Savings Manager.

5 Day Chart for NASDAQ:SQI

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