Pitcairn Co. Sells 587 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Pitcairn Co. reduced its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 12.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,165 shares of the software maker’s stock after selling 587 shares during the period. Pitcairn Co.’s holdings in SPS Commerce were worth $809,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPSC. O Shaughnessy Asset Management LLC raised its position in SPS Commerce by 24.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,877 shares of the software maker’s stock worth $717,000 after purchasing an additional 769 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of SPS Commerce by 11.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 32,875 shares of the software maker’s stock worth $6,062,000 after buying an additional 3,340 shares during the period. Quadrature Capital Ltd bought a new stake in shares of SPS Commerce in the 1st quarter valued at about $329,000. BOKF NA boosted its holdings in SPS Commerce by 89.8% during the 1st quarter. BOKF NA now owns 1,682 shares of the software maker’s stock valued at $310,000 after acquiring an additional 796 shares during the period. Finally, Janus Henderson Group PLC grew its position in SPS Commerce by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker’s stock worth $9,117,000 after acquiring an additional 813 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on SPSC shares. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Robert W. Baird increased their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research note on Friday, October 25th. Finally, Stifel Nicolaus raised their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and an average price target of $223.63.

Insider Buying and Selling

In related 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 value of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

SPS Commerce Stock Performance

SPS Commerce stock opened at $189.13 on Monday. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 90.49 and a beta of 0.84. The stock’s 50 day simple moving average is $186.64 and its two-hundred day simple moving average is $191.26.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results 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 company 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%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, analysts predict that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

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.