Magnetar Financial LLC Has $616,000 Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Magnetar Financial LLC raised its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,348 shares of the software maker’s stock after purchasing an additional 575 shares during the quarter. Magnetar Financial LLC’s holdings in SPS Commerce were worth $616,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce in the fourth quarter worth approximately $40,000. Blue Trust Inc. increased 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 acquiring an additional 84 shares during the last quarter. R Squared Ltd purchased a new stake in shares of SPS Commerce during the fourth quarter valued at approximately $57,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of SPS Commerce during the fourth quarter valued at approximately $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Trading Up 1.4 %

Shares of NASDAQ SPSC opened at $130.13 on Friday. The stock has a fifty day simple moving average of $157.25 and a two-hundred day simple moving average of $177.36. SPS Commerce, Inc. has a 1-year low of $122.58 and a 1-year high of $218.61. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 63.79 and a beta of 0.92.

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

Insider Transactions at SPS Commerce

In other news, EVP Dan Juckniess sold 2,591 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the transaction, the executive vice president now directly owns 1,367,584 shares of the company’s stock, valued at $202,429,783.68. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the sale, the chief executive officer now owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,864 shares of company stock valued at $6,613,078 over the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Piper Sandler decreased their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Citigroup decreased their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Needham & Company LLC decreased their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Robert W. Baird decreased their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus decreased their price target on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $207.11.

About SPS Commerce

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.