Everence Capital Management Inc. Decreases Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Everence Capital Management Inc. lessened its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 15.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,760 shares of the software maker’s stock after selling 860 shares during the period. Everence Capital Management Inc.’s holdings in SPS Commerce were worth $876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares during the period. Signaturefd LLC grew its position in shares of SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares during the period. Finally, Huntington National Bank lifted its holdings in SPS Commerce by 63.0% during the 3rd quarter. Huntington National Bank now owns 445 shares of the software maker’s stock worth $86,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

SPSC has been the subject of a number of recent analyst reports. Robert W. Baird lifted their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Piper Sandler started coverage on shares of SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Stifel Nicolaus decreased their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

SPS Commerce Trading Up 2.2 %

Shares of NASDAQ SPSC opened at $186.85 on Friday. The stock’s 50-day moving average is $186.00 and its 200 day moving average is $191.39. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 89.40 and a beta of 0.88. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. On average, analysts forecast that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.