Russell Investments Group Ltd. Purchases 14,252 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

27 May 2020, 11:48 by Danessa Lincoln

Russell Investments Group Ltd. boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,380 shares of the software maker’s stock after purchasing an additional 14,252 shares during the period. Russell Investments Group Ltd. owned approximately 0.26% of SPS Commerce worth $4,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPSC. Municipal Employees Retirement System of Michigan increased its holdings in SPS Commerce by 2.0% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 10,680 shares of the software maker’s stock valued at $592,000 after buying an additional 210 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in SPS Commerce by 4.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,612 shares of the software maker’s stock valued at $255,000 after buying an additional 210 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in SPS Commerce by 2.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 10,119 shares of the software maker’s stock valued at $561,000 after buying an additional 251 shares during the period. Mason Street Advisors LLC increased its holdings in SPS Commerce by 2.4% during the fourth quarter. Mason Street Advisors LLC now owns 12,135 shares of the software maker’s stock valued at $673,000 after buying an additional 290 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in SPS Commerce by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,326 shares of the software maker’s stock valued at $407,000 after buying an additional 387 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Craig Hallum cut their price objective on shares of SPS Commerce from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of SPS Commerce in a report on Friday, May 1st. ValuEngine lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, April 14th. Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Saturday, May 9th. Finally, Robert W. Baird assumed coverage on shares of SPS Commerce in a report on Tuesday, February 18th. They issued a “neutral” rating and a $67.00 price target on the stock. Four analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $65.00.

In related news, CEO Archie C. Black sold 1,390 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $62.54, for a total transaction of $86,930.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO James J. Frome sold 63,261 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $60.06, for a total transaction of $3,799,455.66. Following the transaction, the chief operating officer now owns 43,233 shares of the company’s stock, valued at $2,596,573.98. The disclosure for this sale can be found here. Insiders have sold 73,129 shares of company stock valued at $4,370,849 over the last 90 days. 7.20% of the stock is currently owned by insiders.

Shares of SPSC opened at $66.76 on Wednesday. The firm has a market capitalization of $2.25 billion, a PE ratio of 66.43, a price-to-earnings-growth ratio of 4.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.68 and a quick ratio of 4.68. SPS Commerce, Inc. has a 1-year low of $31.28 and a 1-year high of $66.83. The company’s fifty day moving average price is $54.24 and its 200-day moving average price is $54.02.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, April 30th. The software maker reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The firm had revenue of $74.19 million for the quarter, compared to analyst estimates of $73.82 million. SPS Commerce had a net margin of 12.72% and a return on equity of 11.07%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share. As a group, research analysts anticipate that SPS Commerce, Inc. will post 0.99 EPS for the current fiscal year.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.