SPS Commerce, Inc. (NASDAQ:SPSC) Stock Position Trimmed by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,741 shares of the software maker’s stock after selling 2,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in SPS Commerce were worth $15,289,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Mather Group LLC. increased its position in shares of SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in SPS Commerce in the 2nd quarter valued at about $30,000. Blue Trust Inc. increased its position in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Advisors Asset Management Inc. increased its position 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. Finally, DT Investment Partners LLC acquired a new stake in SPS Commerce in the 2nd quarter valued at about $63,000. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Trading Down 0.4 %

Shares of SPSC opened at $192.57 on Friday. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 92.14 and a beta of 0.84. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The company’s fifty day simple moving average is $186.60 and its 200 day simple moving average is $191.28.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, research analysts forecast that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Insider Buying and Selling

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction on Tuesday, November 5th. The shares were 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 $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Stifel Nicolaus raised their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird raised their price objective 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. Finally, Piper Sandler assumed coverage on shares of SPS Commerce in a research report on Monday. They issued a “neutral” rating and a $198.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

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.