New York State Teachers Retirement System Sells 3,107 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

New York State Teachers Retirement System reduced its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,728 shares of the software maker’s stock after selling 3,107 shares during the period. New York State Teachers Retirement System’s holdings in SPS Commerce were worth $2,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its stake in SPS Commerce by 209.6% in the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after acquiring an additional 44,946 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in SPS Commerce in the 3rd quarter valued at $3,178,000. Synovus Financial Corp bought a new stake in SPS Commerce during the 3rd quarter valued at $1,809,000. JPMorgan Chase & Co. raised its holdings in SPS Commerce by 69.4% during the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after buying an additional 104,210 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after buying an additional 16,357 shares in the last quarter. 98.96% of the stock is owned by institutional investors.

SPS Commerce Price Performance

SPSC opened at $141.22 on Friday. SPS Commerce, Inc. has a one year low of $139.59 and a one year high of $218.61. The firm has a market capitalization of $5.33 billion, a P/E ratio of 69.23 and a beta of 0.88. The company has a fifty day moving average price of $179.85 and a 200-day moving average price of $186.46.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. On average, analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Analyst Ratings Changes

SPSC has been the topic of a number of recent research reports. Needham & Company LLC dropped their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus cut their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Northland Securities reiterated a “market perform” rating and issued a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Robert W. Baird reduced their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler decreased their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Buying and Selling

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the transaction, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dan Juckniess sold 2,591 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the transaction, the executive vice president now directly owns 1,367,584 shares in the company, valued at $202,429,783.68. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,695 shares of company stock worth $7,781,086. Corporate insiders own 1.00% of the company’s stock.

About SPS Commerce

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.