SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Wallace Advisory Group LLC

Wallace Advisory Group LLC lessened its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 7.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,052 shares of the software maker’s stock after selling 167 shares during the period. Wallace Advisory Group LLC’s holdings in SPS Commerce were worth $398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings in shares of SPS Commerce by 18.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,040 shares of the software maker’s stock worth $191,000 after buying an additional 160 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in SPS Commerce by 13.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,010 shares of the software maker’s stock valued at $186,000 after acquiring an additional 120 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in SPS Commerce by 69.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of SPS Commerce by 27.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 283,685 shares of the software maker’s stock worth $55,083,000 after purchasing an additional 61,907 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after purchasing an additional 210,284 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SPSC. Stifel Nicolaus reduced their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, January 3rd. Piper Sandler initiated coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company. Finally, Robert W. Baird raised their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.00.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction 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 directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

SPS Commerce Trading Down 0.1 %

Shares of SPSC opened at $179.02 on Tuesday. The company’s 50-day moving average price is $187.61 and its 200 day moving average price is $191.38. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The firm has a market cap of $6.73 billion, a P/E ratio of 85.66 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating 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 business’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Equities research analysts forecast that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

SPS Commerce 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.