8,380 Shares in SPS Commerce, Inc. (NASDAQ:SPSC) Bought by M&T Bank Corp

M&T Bank Corp acquired a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,380 shares of the software maker’s stock, valued at approximately $653,000.

Several other institutional investors also recently made changes to their positions in the stock. Renaissance Group LLC grew its stake in shares of SPS Commerce by 1.0% during the second quarter. Renaissance Group LLC now owns 13,498 shares of the software maker’s stock worth $1,014,000 after purchasing an additional 130 shares during the period. California State Teachers Retirement System grew its stake in shares of SPS Commerce by 0.3% during the second quarter. California State Teachers Retirement System now owns 53,330 shares of the software maker’s stock worth $4,006,000 after purchasing an additional 156 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of SPS Commerce by 12.6% during the second quarter. Mutual of America Capital Management LLC now owns 1,699 shares of the software maker’s stock worth $128,000 after purchasing an additional 190 shares during the period. First Horizon Advisors Inc. grew its stake in shares of SPS Commerce by 31.1% during the second quarter. First Horizon Advisors Inc. now owns 806 shares of the software maker’s stock worth $60,000 after purchasing an additional 191 shares during the period. Finally, Advisor Group Holdings Inc. grew its stake in shares of SPS Commerce by 3.7% during the second quarter. Advisor Group Holdings Inc. now owns 5,616 shares of the software maker’s stock worth $422,000 after purchasing an additional 200 shares during the period. 98.67% of the stock is owned by institutional investors and hedge funds.

In other SPS Commerce news, CEO Archie C. Black sold 58,850 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $91.35, for a total transaction of $5,375,947.50. Following the completion of the sale, the chief executive officer now directly owns 81,909 shares in the company, valued at $7,482,387.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin J. Leestma sold 20,806 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $88.90, for a total value of $1,849,653.40. Following the sale, the director now owns 32,824 shares of the company’s stock, valued at $2,918,053.60. The disclosure for this sale can be found here. 7.20% of the stock is owned by insiders.

SPSC has been the subject of a number of analyst reports. Craig Hallum lifted their price objective on SPS Commerce from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Zacks Investment Research lowered SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC lifted their target price on SPS Commerce from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. BidaskClub upgraded SPS Commerce from a “buy” rating to a “strong-buy” rating in a report on Friday, October 9th. Finally, Oppenheimer initiated coverage on SPS Commerce in a report on Friday, July 31st. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $77.63.

Shares of SPS Commerce stock opened at $96.32 on Friday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 90.02, a price-to-earnings-growth ratio of 5.56 and a beta of 0.83. The stock’s 50-day moving average is $87.31 and its 200-day moving average is $75.96. SPS Commerce, Inc. has a one year low of $31.28 and a one year high of $97.18.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Wednesday, October 28th. The software maker reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.15. SPS Commerce had a return on equity of 11.54% and a net margin of 13.23%. On average, analysts expect that SPS Commerce, Inc. will post 1.04 earnings per share for the current fiscal year.

SPS Commerce 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.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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