Principal Financial Group Inc. cut its stake in SPS Commerce, Inc. (NASDAQ:SPSC – Free Report) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,369 shares of the software maker’s stock after selling 8,215 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of SPS Commerce worth $35,799,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Signaturefd LLC raised its holdings in SPS Commerce by 26.0% in the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after acquiring an additional 69 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of SPS Commerce by 1,358.3% in the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after acquiring an additional 326 shares during the period. Finally, Huntington National Bank grew its holdings in shares of SPS Commerce by 63.0% during the 3rd quarter. Huntington National Bank now owns 445 shares of the software maker’s stock worth $86,000 after purchasing an additional 172 shares in the last quarter. 98.96% of the stock is owned by institutional investors.
SPS Commerce Stock Down 1.1 %
SPSC stock opened at $186.16 on Tuesday. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74. The company has a market cap of $6.99 billion, a P/E ratio of 89.07 and a beta of 0.86. The business has a fifty day moving average of $186.77 and a 200-day moving average of $191.38.
SPS Commerce (NASDAQ:SPSC – Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, equities research analysts anticipate that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.
Insider Activity at SPS Commerce
In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the sale, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
SPSC has been the subject of a number of recent research reports. Piper Sandler began coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price for the company. Robert W. Baird raised 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. Stifel Nicolaus lifted their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.78.
View Our Latest Report on SPSC
SPS Commerce Company Profile
(Free Report)
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.
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