Comerica Bank Has $19.95 Million Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Comerica Bank lowered its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,918 shares of the software maker’s stock after selling 11,121 shares during the period. Comerica Bank owned 0.29% of SPS Commerce worth $19,954,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in SPS Commerce during the 4th quarter worth about $74,977,000. Norden Group LLC grew its stake in shares of SPS Commerce by 2,034.7% during the first quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock valued at $39,138,000 after purchasing an additional 201,764 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $18,779,000. Axiom Investors LLC DE raised its position in SPS Commerce by 183.0% in the 4th quarter. Axiom Investors LLC DE now owns 130,556 shares of the software maker’s stock worth $25,307,000 after purchasing an additional 84,420 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in SPS Commerce by 23.0% in the 4th quarter. Wellington Management Group LLP now owns 341,875 shares of the software maker’s stock worth $66,269,000 after purchasing an additional 63,962 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the transaction, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total value of $491,838.10. Following the completion of the sale, the director now owns 18,852 shares in the company, valued at $3,879,553.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Burr Ramsey sold 6,567 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the transaction, the director now owns 14,728 shares in the company, valued at $2,855,759.20. The disclosure for this sale can be found here. Insiders sold 12,242 shares of company stock worth $2,422,377 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPSC. DA Davidson lifted their target price on SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Redburn Atlantic started coverage on SPS Commerce in a research report on Tuesday, May 14th. They issued a “buy” rating and a $220.00 price objective for the company. Stifel Nicolaus boosted their price objective on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Craig Hallum raised their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $220.25.

SPS Commerce Price Performance

NASDAQ:SPSC traded down $11.34 during trading hours on Friday, reaching $197.62. 18,550 shares of the stock were exchanged, compared to its average volume of 181,631. The stock has a market cap of $7.33 billion, a PE ratio of 114.19 and a beta of 0.84. SPS Commerce, Inc. has a twelve month low of $151.96 and a twelve month high of $218.74. The firm has a 50 day moving average of $193.30 and a 200 day moving average of $186.93.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The business had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.87 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. Equities research analysts anticipate that SPS Commerce, Inc. will post 2.35 earnings per share for the current year.

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.