SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 7.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,606 shares of the software maker’s stock after selling 796 shares during the period. Bank of Montreal Can’s holdings in SPS Commerce were worth $2,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC increased its stake in SPS Commerce by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock valued at $242,437,000 after purchasing an additional 21,170 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of SPS Commerce by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock valued at $93,583,000 after purchasing an additional 12,552 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of SPS Commerce by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after purchasing an additional 8,186 shares during the period. Geneva Capital Management LLC raised its stake in shares of SPS Commerce by 0.5% during the third quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker’s stock worth $86,170,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of SPS Commerce by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 340,419 shares of the software maker’s stock worth $64,053,000 after purchasing an additional 22,928 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Piper Sandler started coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Stifel Nicolaus raised their price target on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average target price of $220.78.

SPS Commerce Stock Down 2.8 %

NASDAQ:SPSC opened at $189.60 on Friday. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The stock has a fifty day simple moving average of $186.51 and a 200-day simple moving average of $191.16. The company has a market capitalization of $7.12 billion, a PE ratio of 90.72 and a beta of 0.86.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities analysts anticipate that SPS Commerce, Inc. will post 2.38 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.