Handelsbanken Fonder AB Sells 700 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Handelsbanken Fonder AB decreased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,100 shares of the software maker’s stock after selling 700 shares during the period. Handelsbanken Fonder AB owned 0.15% of SPS Commerce worth $10,138,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPSC. Blue Trust Inc. raised its holdings in shares of SPS Commerce by 140.8% in 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 period. Advisors Asset Management Inc. raised its stake in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares during the period. R Squared Ltd bought a new stake in shares of SPS Commerce in the fourth quarter valued at $57,000. Signaturefd LLC lifted its position in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after buying an additional 69 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after acquiring an additional 326 shares during the period. 98.96% of the stock is owned by institutional investors.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $141.22 on Friday. The company has a market capitalization of $5.33 billion, a PE ratio of 69.23 and a beta of 0.88. SPS Commerce, Inc. has a 52-week low of $139.59 and a 52-week high of $218.61. The business’s fifty day moving average is $179.85 and its 200 day moving average is $186.46.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SPSC shares. Northland Securities reaffirmed a “market perform” rating and set a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Citigroup dropped their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Robert W. Baird reduced their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Piper Sandler dropped their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reduced their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Activity at SPS Commerce

In other news, EVP Dan Juckniess sold 5,831 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares in the company, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,695 shares of company stock valued at $7,781,086 over the last three months. 1.00% of the stock is owned by corporate insiders.

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.