SPS Commerce, Inc. (NASDAQ:SPSC) Short Interest Up 18.5% in November

SPS Commerce, Inc. (NASDAQ:SPSC) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 956,000 shares, a growth of 18.5% from the November 15th total of 806,500 shares. Based on an average trading volume of 207,300 shares, the days-to-cover ratio is currently 4.6 days.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a report on Friday, October 25th. Piper Sandler assumed coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $220.78.

Insider Buying and Selling

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

Hedge Funds Weigh In On SPS Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in SPS Commerce by 79.0% in the second quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker’s stock valued at $1,562,000 after buying an additional 3,662 shares in the last quarter. Barclays PLC lifted its position in shares of SPS Commerce by 209.6% during the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares in the last quarter. AXA S.A. lifted its position in shares of SPS Commerce by 19.4% during the second quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock worth $5,530,000 after purchasing an additional 4,784 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of SPS Commerce during the third quarter worth approximately $3,178,000. Finally, Hsbc Holdings PLC lifted its position in shares of SPS Commerce by 448.2% during the second quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock worth $6,295,000 after purchasing an additional 27,376 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Trading Up 3.3 %

NASDAQ SPSC traded up $6.31 on Monday, reaching $198.69. The company’s stock had a trading volume of 183,870 shares, compared to its average volume of 184,388. The firm has a market cap of $7.46 billion, a PE ratio of 95.07 and a beta of 0.86. The business has a 50-day moving average price of $187.28 and a 200 day moving average price of $191.26. SPS Commerce has a 52 week low of $160.58 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. Analysts anticipate that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

SPS Commerce Company Profile

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.