Cubist Systematic Strategies LLC boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 38.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,661 shares of the software maker’s stock after purchasing an additional 2,122 shares during the period. Cubist Systematic Strategies LLC’s holdings in SPS Commerce were worth $563,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of SPS Commerce by 1.8% in the 1st quarter. Rhumbline Advisers now owns 39,540 shares of the software maker’s stock valued at $2,533,000 after purchasing an additional 711 shares during the last quarter. US Bancorp DE boosted its holdings in shares of SPS Commerce by 9.8% in the 1st quarter. US Bancorp DE now owns 8,863 shares of the software maker’s stock valued at $568,000 after purchasing an additional 794 shares during the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of SPS Commerce by 4.3% in the 2nd quarter. Perkins Capital Management Inc. now owns 20,850 shares of the software maker’s stock valued at $1,532,000 after purchasing an additional 850 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of SPS Commerce by 46.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,022 shares of the software maker’s stock valued at $222,000 after purchasing an additional 962 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of SPS Commerce by 8.9% in the 1st quarter. Baker Avenue Asset Management LP now owns 12,397 shares of the software maker’s stock valued at $794,000 after purchasing an additional 1,016 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

Shares of SPSC opened at $95.20 on Thursday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 226.67, a P/E/G ratio of 4.18 and a beta of 0.77. SPS Commerce, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $100.68.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, July 26th. The software maker reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.16. The business had revenue of $61.09 million for the quarter, compared to analyst estimates of $59.78 million. SPS Commerce had a net margin of 0.61% and a return on equity of 4.25%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. equities research analysts expect that SPS Commerce, Inc. will post 1.15 earnings per share for the current year.

A number of equities analysts have weighed in on SPSC shares. BidaskClub upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price target on shares of SPS Commerce in a report on Friday, July 27th. Canaccord Genuity lifted their price target on shares of SPS Commerce from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 27th. Stifel Nicolaus lifted their price target on shares of SPS Commerce from $82.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Benchmark upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating in a report on Friday, July 27th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $86.29.

In related news, COO James J. Frome sold 3,280 shares of SPS Commerce stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $90.00, for a total transaction of $295,200.00. Following the transaction, the chief operating officer now owns 31,892 shares in the company, valued at approximately $2,870,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin J. Leestma sold 5,316 shares of SPS Commerce stock in a transaction on Monday, September 17th. The shares were sold at an average price of $99.35, for a total transaction of $528,144.60. Following the transaction, the director now owns 20,935 shares in the company, valued at approximately $2,079,892.25. The disclosure for this sale can be found here. Insiders have sold a total of 46,811 shares of company stock worth $4,128,745 in the last 90 days. Company insiders own 3.60% of the company’s stock.

SPS Commerce 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.

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

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