Hardy Reed LLC Cuts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Hardy Reed LLC lessened its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,687 shares of the software maker’s stock after selling 89 shares during the period. Hardy Reed LLC’s holdings in SPS Commerce were worth $522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thematics Asset Management grew its stake in SPS Commerce by 19.2% during the third quarter. Thematics Asset Management now owns 113,914 shares of the software maker’s stock worth $22,119,000 after buying an additional 18,385 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of SPS Commerce by 71.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 57,154 shares of the software maker’s stock valued at $11,098,000 after acquiring an additional 23,751 shares in the last quarter. Quantbot Technologies LP boosted its position in SPS Commerce by 101.0% during the 3rd quarter. Quantbot Technologies LP now owns 20,674 shares of the software maker’s stock worth $4,014,000 after purchasing an additional 10,390 shares during the period. FMR LLC increased its holdings in SPS Commerce by 18.3% in the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in SPS Commerce in the third quarter valued at about $17,128,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Price Performance

SPSC opened at $193.33 on Wednesday. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The stock has a market capitalization of $7.26 billion, a PE ratio of 92.50 and a beta of 0.84. The firm’s fifty day moving average price is $186.64 and its 200 day moving average price is $191.25.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million for 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%. SPS Commerce’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts forecast that SPS Commerce, Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPSC. Stifel Nicolaus upped their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler started coverage on SPS Commerce in a report on Monday. They issued a “neutral” rating and a $198.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research note on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $220.78.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.