Smith Asset Management Group LP Has $2.71 Million Stake in SPS Commerce, Inc. (SPSC)

Smith Asset Management Group LP lowered its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 10.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,320 shares of the software maker’s stock after selling 3,350 shares during the period. Smith Asset Management Group LP’s holdings in SPS Commerce were worth $2,711,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in shares of SPS Commerce by 10.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 8,563 shares of the software maker’s stock valued at $850,000 after acquiring an additional 827 shares during the last quarter. Perkins Capital Management Inc. raised its stake in shares of SPS Commerce by 4.3% during the second quarter. Perkins Capital Management Inc. now owns 20,850 shares of the software maker’s stock valued at $1,532,000 after acquiring an additional 850 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of SPS Commerce by 46.7% during the second quarter. SG Americas Securities LLC now owns 3,022 shares of the software maker’s stock valued at $222,000 after acquiring an additional 962 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of SPS Commerce during the third quarter valued at $114,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of SPS Commerce during the third quarter valued at $119,000. 94.41% of the stock is owned by hedge funds and other institutional investors.

In related news, 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 completion of the transaction, the director now owns 20,935 shares of the company’s stock, valued at $2,079,892.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Archie C. Black sold 1,997 shares of SPS Commerce stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $95.08, for a total transaction of $189,874.76. Following the transaction, the chief executive officer now directly owns 92,321 shares of the company’s stock, valued at approximately $8,777,880.68. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on SPSC shares. Zacks Investment Research downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. BidaskClub downgraded shares of SPS Commerce from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Oppenheimer lifted their target price on shares of SPS Commerce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, October 26th. Benchmark raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a research note on Friday, July 27th. Finally, Canaccord Genuity lifted their target price on shares of SPS Commerce from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $90.56.

Shares of NASDAQ SPSC opened at $93.93 on Wednesday. SPS Commerce, Inc. has a twelve month low of $45.02 and a twelve month high of $100.68. The firm has a market cap of $1.66 billion, a P/E ratio of 223.64, a PEG ratio of 3.62 and a beta of 0.78.

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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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