Canandaigua National Bank & Trust Co. Sells 285 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Canandaigua National Bank & Trust Co. lessened its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,541 shares of the software maker’s stock after selling 285 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in SPS Commerce were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SPSC. Norden Group LLC boosted its holdings in shares of SPS Commerce by 2,034.7% during the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock valued at $39,138,000 after buying an additional 201,764 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in SPS Commerce by 2,099.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock worth $18,211,000 after purchasing an additional 92,381 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in SPS Commerce by 662.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock worth $17,065,000 after purchasing an additional 78,805 shares in the last quarter. F M Investments LLC bought a new position in SPS Commerce in the 2nd quarter worth about $13,869,000. Finally, Hantz Financial Services Inc. bought a new position in SPS Commerce in the 2nd quarter worth about $12,876,000. Institutional investors own 98.96% of the company’s stock.

Insider Activity

In other news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the sale, the director now owns 16,212 shares of the company’s stock, valued at $3,264,286.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total transaction of $491,838.10. Following the sale, the director now owns 18,852 shares in the company, valued at approximately $3,879,553.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the sale, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,675 shares of company stock valued at $1,551,735 in the last quarter. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SPSC has been the topic of a number of analyst reports. Craig Hallum upped their price target 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. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Stifel Nicolaus upped their price target on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.25.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC opened at $190.32 on Friday. SPS Commerce, Inc. has a fifty-two week low of $151.96 and a fifty-two week high of $218.74. The business has a 50-day simple moving average of $194.76 and a two-hundred day simple moving average of $189.37. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 104.00 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last released its quarterly 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 net margin of 12.31% and a return on equity of 12.41%. The firm had revenue of $153.60 million during the quarter, compared to analyst estimates of $151.87 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, research analysts predict that SPS Commerce, Inc. will post 2.32 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.