Raymond James Financial Inc. Makes New $27.44 Million Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

Raymond James Financial Inc. acquired a new stake in SPS Commerce, Inc. (NASDAQ:SPSC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 149,145 shares of the software maker’s stock, valued at approximately $27,441,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its holdings in SPS Commerce by 209.6% in the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after acquiring an additional 44,946 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of SPS Commerce by 7.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,102 shares of the software maker’s stock valued at $587,000 after purchasing an additional 213 shares during the last quarter. Tidal Investments LLC grew its position in shares of SPS Commerce by 15.8% during the 3rd quarter. Tidal Investments LLC now owns 1,937 shares of the software maker’s stock worth $376,000 after buying an additional 265 shares during the period. Synovus Financial Corp bought a new stake in shares of SPS Commerce during the third quarter worth approximately $1,809,000. Finally, Franklin Resources Inc. lifted its holdings in SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after buying an additional 210,284 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. The trade was a 30.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the transaction, the chief executive officer now owns 5,270,106 shares of the company’s stock, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,864 shares of company stock valued at $6,613,078 in the last quarter. 0.98% of the stock is currently owned by insiders.

SPS Commerce Stock Up 0.3 %

Shares of NASDAQ:SPSC opened at $129.06 on Friday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 63.27 and a beta of 0.89. SPS Commerce, Inc. has a 12 month low of $120.09 and a 12 month high of $218.61. The company’s fifty day simple moving average is $134.83 and its 200 day simple moving average is $169.23.

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

Analysts Set New Price Targets

SPSC has been the subject of several recent research reports. Piper Sandler dropped their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Northland Securities reissued a “market perform” rating and issued a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Robert W. Baird lowered their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus cut their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup decreased their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.89.

SPS Commerce Company 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.