Kayne Anderson Rudnick Investment Management LLC Sells 60,781 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 808,267 shares of the software maker’s stock after selling 60,781 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 2.18% of SPS Commerce worth $152,084,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPSC. Norges Bank bought a new position in shares of SPS Commerce in the 4th quarter worth $74,977,000. Coldstream Capital Management Inc. bought a new position in SPS Commerce during the fourth quarter worth about $203,000. EverSource Wealth Advisors LLC boosted its holdings in SPS Commerce by 10.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker’s stock worth $114,000 after buying an additional 56 shares during the last quarter. Parallel Advisors LLC grew its position in shares of SPS Commerce by 52.9% during the 4th quarter. Parallel Advisors LLC now owns 338 shares of the software maker’s stock worth $66,000 after buying an additional 117 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of SPS Commerce in the 4th quarter valued at about $3,396,000. 98.96% of the stock is owned by institutional investors.

SPS Commerce Price Performance

SPS Commerce stock opened at $195.33 on Friday. The firm has a 50-day moving average of $197.70 and a 200-day moving average of $188.65. SPS Commerce, Inc. has a one year low of $151.96 and a one year high of $218.74. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 106.74 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last issued 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. The firm had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side analysts expect that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $205.00 to $209.00 in a report on Monday, July 29th. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. DA Davidson lifted their target price on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Craig Hallum increased their price target on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus raised their price target on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.25.

Insider Activity at SPS Commerce

In related news, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total value of $491,838.10. Following the completion of the sale, the director now directly owns 18,852 shares in the company, valued at approximately $3,879,553.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the transaction, the director now directly owns 16,212 shares in the company, valued at $3,264,286.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip Soran sold 2,390 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total transaction of $491,838.10. Following the completion of the transaction, the director now directly owns 18,852 shares in the company, valued at $3,879,553.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,675 shares of company stock valued at $1,551,735. 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.