Bessemer Group Inc. Raises Stock Holdings in SPS Commerce, Inc. $SPSC

Bessemer Group Inc. boosted its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 1,182.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,862 shares of the software maker’s stock after purchasing an additional 7,249 shares during the quarter. Bessemer Group Inc.’s holdings in SPS Commerce were worth $819,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Nordea Investment Management AB increased its stake in shares of SPS Commerce by 505.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,330,237 shares of the software maker’s stock worth $177,587,000 after acquiring an additional 1,110,476 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in SPS Commerce by 2.5% during the third quarter. Conestoga Capital Advisors LLC now owns 1,281,511 shares of the software maker’s stock worth $133,457,000 after acquiring an additional 30,769 shares in the last quarter. Geode Capital Management LLC grew its holdings in SPS Commerce by 1.2% in the second quarter. Geode Capital Management LLC now owns 975,890 shares of the software maker’s stock worth $132,824,000 after purchasing an additional 12,046 shares during the period. Geneva Capital Management LLC increased its stake in shares of SPS Commerce by 7.5% during the second quarter. Geneva Capital Management LLC now owns 619,031 shares of the software maker’s stock valued at $84,244,000 after purchasing an additional 43,330 shares in the last quarter. Finally, Van Berkom & Associates Inc. purchased a new position in shares of SPS Commerce during the third quarter valued at approximately $51,878,000. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Down 0.9%

SPSC stock opened at $74.83 on Wednesday. The stock’s 50 day simple moving average is $88.46 and its 200 day simple moving average is $97.94. SPS Commerce, Inc. has a 12-month low of $73.05 and a 12-month high of $172.00. The stock has a market capitalization of $2.82 billion, a PE ratio of 33.56 and a beta of 0.56.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of SPS Commerce in a research note on Thursday, January 22nd. Citigroup cut their target price on SPS Commerce from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. DA Davidson reduced their price target on SPS Commerce from $125.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Cantor Fitzgerald cut shares of SPS Commerce from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $135.00 to $80.00 in a research note on Friday, October 31st. Finally, Robert W. Baird set a $104.00 price objective on shares of SPS Commerce in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.22.

Insider Activity

In related news, Director Marty M. Reaume sold 1,732 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $92.26, for a total transaction of $159,794.32. Following the sale, the director directly owned 9,158 shares of the company’s stock, valued at $844,917.08. This trade represents a 15.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by insiders.

SPS Commerce Company Profile

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company’s platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.