King Luther Capital Management Corp Reduces Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

King Luther Capital Management Corp trimmed its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,305 shares of the software maker’s stock after selling 225 shares during the period. King Luther Capital Management Corp’s holdings in SPS Commerce were worth $434,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Shaker Investments LLC OH raised its holdings in SPS Commerce by 1.7% in the second quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock valued at $564,000 after acquiring an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of SPS Commerce by 10.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker’s stock valued at $114,000 after purchasing an additional 56 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of SPS Commerce by 1.8% during the second quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker’s stock worth $707,000 after purchasing an additional 67 shares during the last quarter. XTX Topco Ltd lifted its position in shares of SPS Commerce by 4.9% during the second quarter. XTX Topco Ltd now owns 1,744 shares of the software maker’s stock worth $328,000 after purchasing an additional 82 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in SPS Commerce by 7.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the software maker’s stock worth $226,000 after purchasing an additional 83 shares in the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Stifel Nicolaus boosted their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Craig Hallum increased their price objective on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.25.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other SPS Commerce news, Director Philip Soran sold 3,285 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the completion of the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the sale, the director now directly owns 16,212 shares in the company, valued at approximately $3,264,286.20. The disclosure for this sale can be found here. Insiders have sold a total of 7,675 shares of company stock worth $1,551,735 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

SPS Commerce Trading Down 0.2 %

Shares of NASDAQ:SPSC opened at $195.33 on Monday. The firm’s 50 day moving average is $197.70 and its two-hundred day moving average is $188.77. The firm has a market capitalization of $7.23 billion, a P/E ratio of 106.74 and a beta of 0.82. SPS Commerce, Inc. has a 52 week low of $151.96 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $151.87 million. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Analysts predict that SPS Commerce, Inc. will post 2.32 EPS 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.