State of Alaska Department of Revenue Lowers Position in SPS Commerce, Inc. (NASDAQ:SPSC)

State of Alaska Department of Revenue reduced its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,356 shares of the software maker’s stock after selling 221 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of SPS Commerce worth $4,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in SPS Commerce in the 4th quarter valued at $26,000. CVA Family Office LLC purchased a new stake in SPS Commerce in the 4th quarter valued at $44,000. Parallel Advisors LLC raised its position in SPS Commerce by 52.9% in the 4th quarter. Parallel Advisors LLC now owns 338 shares of the software maker’s stock valued at $66,000 after buying an additional 117 shares during the last quarter. RiverPark Advisors LLC raised its position in SPS Commerce by 43.9% in the 4th quarter. RiverPark Advisors LLC now owns 354 shares of the software maker’s stock valued at $69,000 after buying an additional 108 shares during the last quarter. Finally, NBC Securities Inc. raised its position in SPS Commerce by 73.7% in the 1st quarter. NBC Securities Inc. now owns 363 shares of the software maker’s stock valued at $67,000 after buying an additional 154 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SPS Commerce

In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total value of $1,273,341.30. Following the completion of the transaction, the director now owns 14,728 shares in the company, valued at approximately $2,855,759.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

SPS Commerce Stock Performance

SPSC stock opened at $190.37 on Friday. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 104.03 and a beta of 0.85. SPS Commerce, Inc. has a fifty-two week low of $151.96 and a fifty-two week high of $218.74. The stock has a fifty day moving average of $188.20 and a 200-day moving average of $184.78.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SPSC shares. StockNews.com lowered SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Needham & Company LLC restated a “buy” rating and issued a $205.00 price objective on shares of SPS Commerce in a research note on Friday, May 10th. Redburn Atlantic assumed coverage on SPS Commerce in a research note on Tuesday, May 14th. They issued a “buy” rating and a $220.00 price objective for the company. Robert W. Baird upped their price objective on SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, William Blair restated a “market perform” rating on shares of SPS Commerce in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, SPS Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.25.

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.