Lisanti Capital Growth LLC Buys New Shares in SPS Commerce, Inc. $SPSC

Lisanti Capital Growth LLC bought a new stake in SPS Commerce, Inc. (NASDAQ:SPSC) in the third quarter, HoldingsChannel reports. The fund bought 34,935 shares of the software maker’s stock, valued at approximately $2,880,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of SPS Commerce by 3.1% during the 2nd quarter. State Street Corp now owns 1,545,696 shares of the software maker’s stock worth $88,367,000 after buying an additional 45,886 shares during the last quarter. Bank of America Corp DE raised its position in shares of SPS Commerce by 3.3% in the 1st quarter. Bank of America Corp DE now owns 998,622 shares of the software maker’s stock worth $55,593,000 after buying an additional 31,434 shares during the period. Summit Global Investments purchased a new position in shares of SPS Commerce in the 2nd quarter worth $828,000. BlackRock Inc. acquired a new position in SPS Commerce in the second quarter valued at $339,259,000. Finally, Man Group plc acquired a new position in SPS Commerce in the second quarter valued at $859,000. Institutional investors and hedge funds own 98.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPSC shares. Wall Street Zen raised SPS Commerce from a “hold” rating to a “buy” rating in a research report on Sunday, October 25th. Zacks Research upgraded SPS Commerce from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Stifel Nicolaus raised their price objective on SPS Commerce from $70.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 14th. Citigroup reaffirmed a “buy” rating and issued a $99.00 price objective (up from $82.00) on shares of SPS Commerce in a research note on Tuesday, October 20th. Finally, Weiss Ratings upgraded SPS Commerce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.33.

Insider Buying and Selling

In other SPS Commerce news, Director Marty Réaume sold 4,536 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $86.86, for a total transaction of $393,996.96. Following the completion of the transaction, the director owned 12,894 shares in the company, valued at approximately $1,119,972.84. The trade was a 26.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jamie Thingelstad sold 11,196 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $81.59, for a total transaction of $913,481.64. Following the completion of the transaction, the executive vice president owned 95,777 shares of the company’s stock, valued at $7,814,445.43. This represents a 10.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.58% of the company’s stock.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $82.85 on Thursday. The business’s 50-day simple moving average is $83.46 and its 200 day simple moving average is $68.09. SPS Commerce, Inc. has a one year low of $49.04 and a one year high of $96.54. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 36.82 and a beta of 0.66.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 29th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The business had revenue of $197.65 million during the quarter, compared to the consensus estimate of $197.51 million. SPS Commerce had a return on equity of 13.72% and a net margin of 10.65%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $1.13 earnings per share. On average, equities research analysts predict that SPS Commerce, Inc. will post 3.68 EPS for the current year.

SPS Commerce Profile

SPS Commerce provides cloud-based supply chain management software and services, with a focus on helping retailers, suppliers, distributors and logistics providers exchange business information and coordinate transactions. Its platform connects trading partners and supports electronic data interchange (EDI), order processing and fulfillment workflows. The company also offers tools for supply chain analytics and product information management, along with implementation and ongoing support services.