SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 49.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,375 shares of the software maker’s stock after selling 9,300 shares during the period. Algert Global LLC’s holdings in SPS Commerce were worth $1,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mather Group LLC. raised 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 during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of SPS Commerce during the 2nd quarter worth approximately $30,000. Blue Trust Inc. raised its position in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in shares of SPS Commerce during the 2nd quarter worth approximately $63,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 6,839 shares of the company’s 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

SPS Commerce Trading Down 0.4 %

Shares of SPS Commerce stock opened at $192.57 on Thursday. The company has a fifty day moving average price of $186.67 and a 200 day moving average price of $191.26. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 92.14 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly 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. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was up 20.7% on a year-over-year basis. Analysts forecast that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPSC has been the subject of several research reports. Stifel Nicolaus lifted their price objective 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 assumed coverage on shares of SPS Commerce in a research note on Monday. They issued a “neutral” rating and a $198.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, SPS Commerce presently has an average rating of “Moderate Buy” and an average price target of $220.78.

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.