Illinois Municipal Retirement Fund Has $4.67 Million Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Illinois Municipal Retirement Fund reduced its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,071 shares of the software maker’s stock after selling 1,458 shares during the period. Illinois Municipal Retirement Fund owned 0.07% of SPS Commerce worth $4,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SPSC. Wellington Management Group LLP grew its stake in shares of SPS Commerce by 4,691.6% in the third quarter. Wellington Management Group LLP now owns 277,913 shares of the software maker’s stock valued at $47,415,000 after acquiring an additional 272,113 shares in the last quarter. Comerica Bank acquired a new position in shares of SPS Commerce in the third quarter valued at about $23,356,000. Ameriprise Financial Inc. grew its stake in shares of SPS Commerce by 27.6% in the third quarter. Ameriprise Financial Inc. now owns 594,624 shares of the software maker’s stock valued at $101,449,000 after acquiring an additional 128,788 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of SPS Commerce by 38.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 419,612 shares of the software maker’s stock valued at $71,590,000 after acquiring an additional 115,522 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of SPS Commerce by 102.8% in the third quarter. Lord Abbett & CO. LLC now owns 184,992 shares of the software maker’s stock valued at $31,562,000 after acquiring an additional 93,795 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPSC has been the topic of several research reports. Citigroup initiated coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 price objective on shares of SPS Commerce in a research report on Friday, February 9th. Finally, StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.67.

Insider Transactions at SPS Commerce

In other news, Director Sven Wehrwein sold 2,408 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares of the company’s stock, valued at $3,102,631.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Kimberly K. Nelson sold 5,965 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total value of $1,092,609.05. Following the completion of the transaction, the chief financial officer now owns 147,553 shares in the company, valued at approximately $27,027,283.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sven Wehrwein sold 2,408 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,688 shares of company stock valued at $12,122,275. 1.00% of the stock is currently owned by insiders.

SPS Commerce Trading Up 0.3 %

SPSC stock opened at $171.12 on Thursday. The stock has a market capitalization of $6.35 billion, a P/E ratio of 97.23 and a beta of 0.79. SPS Commerce, Inc. has a 12 month low of $140.00 and a 12 month high of $218.74. The firm has a 50-day moving average price of $180.29 and a 200-day moving average price of $179.16.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a net margin of 12.26% and a return on equity of 12.18%. As a group, equities analysts predict that SPS Commerce, Inc. will post 2.13 EPS for the current fiscal year.

About SPS Commerce

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.