Supply chain management company, Sps Commerce, Inc. (NASDAQ:SPSC), has seen a significant increase in its stock ownership by FDx Advisors Inc., which raised its shares by 126.1% during the fourth quarter of 2018. The institutional investor owned 4,161 shares of SPSC’s stock after acquiring an additional 2,321 shares in the same period; a move that highlights its growing confidence in the software maker’s performance. As at the end of the quarter, FDx Advisors Inc.’s SPSC holdings were worth $534,000.

SPS Commerce provides cloud-based services to manage supply chains for various stakeholders across retailing companies, grocery stores, suppliers and logistics firms among others. The company offer solutions to handle order fulfillment tasks including item data management, inventory control and sales analytics function across all channels through its platform – SPS Commerce cloud services. The firm is renowned for innovation and quality service delivery.

Equity research analysts have provided more insights into SPSC’s potential with positive comments on recent price target boosts and rating upgrades typically recommending a “buy” or “market outperform” stance. Well-known firms such as JMP Securities, Needham & Company LLC and StockNews.com have been bullish about certain price targets for SPS Commerce with coverage optimism surrounding recent developments at the company. According to Bloomberg.com the software maker currently enjoys a “Moderate Buy” consensus rating with an average target price hovering around $157.50.

In conclusion, these recent moves by FDx Advisors Inc bode well for SPS Commerce shareholders who may rest assured that their investment in this innovative supply chain management outfit is right on track as they keep wowing top equity analysts from leading firms worldwide. A moderate buy rating reaffirmed for prospective investors looking to invest in this attractive option therefore makes complete sense.

Institutional Investors and Insider Trading: An Analysis of SPS Commerce Inc.’s Recent Stock Activity

SPS Commerce Inc. has seen a significant increase in stake ownership by institutional investors, including hedge funds such as JPMorgan Chase & Co. and HighTower Advisors LLC. The former increased its stake in the software maker by 33.3% during the first quarter, now owning 84,491 shares valued at $11,085,000. Similarly, HighTower Advisors LLC grew its stake in SPS Commerce by 62.9%, currently owning 4,319 shares valued at $572,000 after acquiring an additional 1,668 shares during Q1.

Bank of Montreal Can and MetLife Investment Management also increased their stakes by 5.7% and 55.3%, respectively during this period while Rhumbline Advisers grew their stake by 7.5%. It is noted that hedge funds and other institutional investors own a staggering 99.31% of the company’s stock.

The business’s stock opened at $160.12 on Monday with a fifty-day moving average price of $150.12 and two-hundred day moving average price of $140.82 per share value.

In other news related to SPS Commerce, CEO Archie C Black disclosed selling off approximately 17,648 company shares worth around $2,598,315 on Wednesday February 22nd followed by Director Sven Wehrwein who sold off another 1,000 shares valued at around $145370 on Tuesday March 14th while the CEO sold off an additional lot of the same amount (17,648) on Wednesday February 22nd again.

All sales were reported via documents filed with the Securities & Exchange Commission platforms which are available online for access.

It is further disclosed that insiders have sold about a combined total of over twenty-seven thousand shares worth approximately four million dollars in the last three months alone with insiders contributing to about one-point-two percent ownership within the company’s stock volume.

The stock is highly regarded currently with a market capitalization of $5.85 billion, a price-to-earnings ratio of 102.64 and a beta of 0.78 despite experiencing swings throughout its fifty-two week run high/low record.

The post FDx Advisors Inc. Increases Stake in Supply Chain Management Company, SPS Commerce Inc., Reflecting Growing Confidence appeared first on Best Stocks.