Sawgrass Asset Management LLC Invests $206,000 in SPS Commerce, Inc. (NASDAQ:SPSC)

Sawgrass Asset Management LLC bought a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,064 shares of the software maker’s stock, valued at approximately $206,000.

Several other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in SPS Commerce by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 431,703 shares of the software maker’s stock valued at $83,681,000 after purchasing an additional 12,091 shares during the period. Private Advisor Group LLC lifted its position in SPS Commerce by 20.2% in the fourth quarter. Private Advisor Group LLC now owns 2,063 shares of the software maker’s stock valued at $400,000 after purchasing an additional 346 shares during the period. Los Angeles Capital Management LLC lifted its position in SPS Commerce by 12.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 21,240 shares of the software maker’s stock valued at $4,117,000 after purchasing an additional 2,416 shares during the period. Natixis Advisors L.P. lifted its position in SPS Commerce by 0.9% in the fourth quarter. Natixis Advisors L.P. now owns 58,451 shares of the software maker’s stock valued at $11,330,000 after purchasing an additional 524 shares during the period. Finally, Fisher Asset Management LLC lifted its position in SPS Commerce by 23.1% in the fourth quarter. Fisher Asset Management LLC now owns 82,537 shares of the software maker’s stock valued at $15,999,000 after purchasing an additional 15,514 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the transaction, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Archie C. Black sold 8,723 shares of SPS Commerce stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $181.56, for a total transaction of $1,583,747.88. Following the transaction, the director now owns 71,852 shares in the company, valued at approximately $13,045,449.12. The disclosure for this sale can be found here. Insiders have sold a total of 28,019 shares of company stock worth $5,186,345 in the last quarter. 1.00% of the stock is owned by insiders.

SPS Commerce Price Performance

SPSC stock traded up $3.71 during midday trading on Tuesday, hitting $192.68. The stock had a trading volume of 199,466 shares, compared to its average volume of 181,428. The firm has a market cap of $7.13 billion, a PE ratio of 105.29 and a beta of 0.81. SPS Commerce, Inc. has a 12-month low of $149.98 and a 12-month high of $218.74. The company’s 50-day moving average price is $178.60 and its 200 day moving average price is $179.95.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. The firm had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. As a group, sell-side analysts anticipate that SPS Commerce, Inc. will post 2.23 EPS for the current year.

Analyst Ratings Changes

SPSC has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a report on Friday, April 26th. Robert W. Baird increased their target price on shares of SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a report on Friday, April 26th. StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Citigroup initiated coverage on shares of SPS Commerce in a report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 target price for the company. Finally, William Blair reaffirmed a “market perform” rating on shares of SPS Commerce in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $196.57.

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.