PNC Financial Services Group Inc. Decreases Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

PNC Financial Services Group Inc. trimmed its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,215 shares of the software maker’s stock after selling 483 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPS Commerce were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SPSC. DekaBank Deutsche Girozentrale purchased a new position in shares of SPS Commerce in the third quarter worth $318,000. Envestnet Asset Management Inc. increased its position in SPS Commerce by 28.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 195,276 shares of the software maker’s stock valued at $33,316,000 after purchasing an additional 43,191 shares during the period. FMR LLC increased its position in SPS Commerce by 0.4% during the 3rd quarter. FMR LLC now owns 507,955 shares of the software maker’s stock valued at $86,662,000 after purchasing an additional 2,152 shares during the period. Dark Forest Capital Management LP increased its position in SPS Commerce by 92.9% during the 3rd quarter. Dark Forest Capital Management LP now owns 2,813 shares of the software maker’s stock valued at $480,000 after purchasing an additional 1,355 shares during the period. Finally, LPL Financial LLC increased its position in SPS Commerce by 5.8% during the 3rd quarter. LPL Financial LLC now owns 23,080 shares of the software maker’s stock valued at $3,919,000 after purchasing an additional 1,274 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $186.13 on Friday. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 101.71 and a beta of 0.83. The firm’s 50-day moving average is $184.32 and its 200 day moving average is $184.51. SPS Commerce, Inc. has a 1 year low of $151.96 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $149.58 million for the quarter, compared to analysts’ expectations of $146.50 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. On average, equities analysts expect that SPS Commerce, Inc. will post 2.23 EPS for the current fiscal year.

Analyst Ratings Changes

SPSC has been the topic of a number of research analyst reports. William Blair reissued a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. Robert W. Baird boosted their target price on shares of SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and set a $205.00 target price on shares of SPS Commerce in a report on Friday, May 10th. Redburn Atlantic began coverage on shares of SPS Commerce in a report on Tuesday, May 14th. They set a “buy” rating and a $220.00 target price on the stock. Finally, StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average price target of $200.25.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the transaction, the director now owns 14,728 shares in the company, valued at approximately $2,855,759.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.