9,315 Shares in SPS Commerce, Inc. (NASDAQ:SPSC) Acquired by Synovus Financial Corp

Synovus Financial Corp bought a new position in SPS Commerce, Inc. (NASDAQ:SPSC) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 9,315 shares of the software maker’s stock, valued at approximately $1,809,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. boosted 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 worth $34,000 after acquiring an additional 100 shares in the last quarter. DT Investment Partners LLC acquired a new stake in SPS Commerce in the second quarter worth $63,000. Signaturefd LLC increased its stake in SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in SPS Commerce by 1,358.3% in the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Trading Down 2.4 %

NASDAQ SPSC opened at $192.38 on Monday. The business has a fifty day simple moving average of $187.10 and a 200 day simple moving average of $191.19. SPS Commerce, Inc. has a 12 month low of $160.58 and a 12 month high of $218.74. The firm has a market capitalization of $7.23 billion, a P/E ratio of 92.05 and a beta of 0.86.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts predict that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler started coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price for the company. Robert W. Baird increased their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a report on Friday, October 25th. Finally, Stifel Nicolaus upped their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $220.78.

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.