SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,573 shares of the software maker’s stock after selling 5,316 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.79% of SPS Commerce worth $54,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in SPS Commerce by 1.1% during the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after purchasing an additional 16,357 shares in the last quarter. Geode Capital Management LLC raised its holdings in SPS Commerce by 1.5% during the third quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock worth $182,287,000 after purchasing an additional 14,174 shares in the last quarter. FMR LLC increased its holdings in shares of SPS Commerce by 18.3% in the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after acquiring an additional 104,769 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of SPS Commerce by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after acquiring an additional 8,186 shares during the period. Finally, Geneva Capital Management LLC increased its holdings in shares of SPS Commerce by 0.5% in the 3rd quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker’s stock valued at $86,170,000 after acquiring an additional 1,994 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the sale, the chief financial officer now directly owns 156,292 shares in the company, valued at $28,864,006.56. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the sale, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,695 shares of company stock worth $7,781,086. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

NASDAQ:SPSC opened at $132.16 on Wednesday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 64.78 and a beta of 0.88. SPS Commerce, Inc. has a 1-year low of $130.43 and a 1-year high of $218.61. The firm’s fifty day moving average price is $172.96 and its 200 day moving average price is $183.83.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on SPSC. Northland Securities reaffirmed a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Needham & Company LLC cut their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Citigroup cut their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Piper Sandler cut their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Robert W. Baird cut their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Company 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.