Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 225.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,073 shares of the software maker’s stock after purchasing an additional 2,129 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SPS Commerce were worth $305,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of SPSC. Harvest Fund Management Co. Ltd acquired a new stake in shares of SPS Commerce during the third quarter worth approximately $114,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in SPS Commerce in the third quarter valued at approximately $119,000. First Quadrant L P CA acquired a new stake in SPS Commerce in the third quarter valued at approximately $151,000. NumerixS Investment Technologies Inc acquired a new stake in SPS Commerce in the second quarter valued at approximately $156,000. Finally, Macquarie Group Ltd. lifted its stake in SPS Commerce by 223.7% in the second quarter. Macquarie Group Ltd. now owns 2,564 shares of the software maker’s stock valued at $188,000 after acquiring an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 93.55% of the company’s stock.
NASDAQ SPSC opened at $82.71 on Friday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 90.22, a price-to-earnings-growth ratio of 3.20 and a beta of 0.78. SPS Commerce, Inc. has a 12-month low of $47.52 and a 12-month high of $100.68.
In other news, CEO Archie C. Black sold 1,997 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $95.08, for a total value of $189,874.76. Following the completion of the sale, the chief executive officer now directly owns 92,321 shares in the company, valued at $8,777,880.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Archie C. Black sold 31,932 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $96.06, for a total transaction of $3,067,387.92. Following the completion of the sale, the chief executive officer now owns 122,256 shares of the company’s stock, valued at $11,743,911.36. The disclosure for this sale can be found here. Insiders sold 47,561 shares of company stock valued at $4,581,581 over the last 90 days. 2.80% of the stock is owned by corporate insiders.
A number of analysts have issued reports on SPSC shares. ValuEngine cut shares of SPS Commerce from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 21st. BidaskClub upgraded shares of SPS Commerce from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 18th. Oppenheimer lifted their target price on shares of SPS Commerce from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Benchmark lifted their target price on shares of SPS Commerce to $98.00 and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $106.00 target price for the company in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $90.56.
TRADEMARK VIOLATION WARNING: This piece was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright laws. The correct version of this piece can be read at https://www.com-unik.info/2018/12/08/zurcher-kantonalbank-zurich-cantonalbank-boosts-position-in-sps-commerce-inc-spsc.html.
SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
Featured Story: Do closed-end mutual funds pay dividends?
Want to see what other hedge funds are holding SPSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPS Commerce, Inc. (NASDAQ:SPSC).
Receive News & Ratings for SPS Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPS Commerce and related companies with MarketBeat.com's FREE daily email newsletter.