Loomis Sayles & Co. L P Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Loomis Sayles & Co. L P boosted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 9.9% in the 4th quarter, HoldingsChannel reports. The firm owned 96,956 shares of the software maker’s stock after purchasing an additional 8,743 shares during the quarter. Loomis Sayles & Co. L P’s holdings in SPS Commerce were worth $17,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of SPS Commerce during the fourth quarter valued at about $40,000. Blue Trust Inc. grew its position in shares of SPS Commerce by 49.1% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after purchasing an additional 84 shares in the last quarter. R Squared Ltd bought a new stake in shares of SPS Commerce in the fourth quarter worth about $57,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of SPS Commerce in the fourth quarter worth about $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the transaction, the executive vice president now directly owns 22,570 shares in the company, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,864 shares of company stock valued at $6,613,078. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird cut their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of SPS Commerce in a report on Wednesday. Northland Securities reaffirmed a “market perform” rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Citigroup dropped their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Piper Sandler lowered their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Price Performance

SPS Commerce stock opened at $133.50 on Friday. The firm has a market capitalization of $5.04 billion, a P/E ratio of 65.44 and a beta of 0.92. SPS Commerce, Inc. has a 1-year low of $122.58 and a 1-year high of $218.61. The company’s 50-day moving average is $152.14 and its 200 day moving average is $175.51.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Research analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.