Russell Investments Group Ltd. Decreases Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Russell Investments Group Ltd. lowered its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 18.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,509 shares of the software maker’s stock after selling 11,577 shares during the period. Russell Investments Group Ltd.’s holdings in SPS Commerce were worth $8,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPSC. Liberty Wealth Management LLC lifted its holdings in shares of SPS Commerce by 9,672.3% during the 2nd quarter. Liberty Wealth Management LLC now owns 4,593 shares of the software maker’s stock worth $46,000 after acquiring an additional 4,546 shares during the last quarter. Heritage Wealth Management LLC increased its position in shares of SPS Commerce by 32.7% in the second quarter. Heritage Wealth Management LLC now owns 629 shares of the software maker’s stock valued at $63,000 after acquiring an additional 155 shares during the period. Lazard Asset Management LLC increased its position in shares of SPS Commerce by 13.4% during the second quarter. Lazard Asset Management LLC now owns 1,501 shares of the software maker’s stock valued at $149,000 after buying an additional 177 shares during the period. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new stake in SPS Commerce during the third quarter worth about $212,000. Finally, Trexquant Investment LP bought a new stake in SPS Commerce during the second quarter worth about $216,000. 99.00% of the stock is owned by institutional investors.

SPS Commerce stock opened at $119.32 on Friday. The company has a fifty day simple moving average of $139.51 and a 200-day simple moving average of $135.13. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 96.23 and a beta of 0.72. SPS Commerce, Inc. has a 52-week low of $91.05 and a 52-week high of $174.42.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 28th. The software maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $97.90 million for the quarter, compared to analysts’ expectations of $97.41 million. SPS Commerce had a net margin of 12.38% and a return on equity of 10.19%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. As a group, equities analysts expect that SPS Commerce, Inc. will post 1.23 EPS for the current fiscal year.

A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of SPS Commerce from $130.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, October 29th. Loop Capital raised their target price on shares of SPS Commerce from $175.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, October 29th. Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $140.00 to $170.00 in a research note on Friday, October 29th. Robert W. Baird raised their target price on shares of SPS Commerce from $130.00 to $167.00 and gave the company an “outperform” rating in a research report on Tuesday, September 21st. Finally, Zacks Investment Research cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Thursday, January 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $172.88.

In related news, Director Philip Soran sold 1,502 shares of SPS Commerce stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $150.00, for a total transaction of $225,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Archie C. Black sold 46,803 shares of the firm’s stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $140.59, for a total value of $6,580,033.77. The disclosure for this sale can be found here. Insiders sold 49,205 shares of company stock worth $6,940,451 over the last quarter. 1.60% of the stock is currently owned by insiders.

SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management services. The firm serves retailers, suppliers, grocers, distributors and logistics firms to orchestrate the management of item data, order fulfillment, inventory control and sales analytics across all channels. Its SPS Commerce cloud services platform offers Trading Partner Community, Fulfillment, Assortment, Analytics, Sourcing, and Other Trading Partner Solutions.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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