Private Advisor Group LLC Sells 327 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Private Advisor Group LLC cut its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 19.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,382 shares of the software maker’s stock after selling 327 shares during the period. Private Advisor Group LLC’s holdings in SPS Commerce were worth $254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its position in shares of SPS Commerce by 209.6% during 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in SPS Commerce in the third quarter worth $3,178,000. Synovus Financial Corp purchased a new stake in SPS Commerce in the third quarter worth $1,809,000. JPMorgan Chase & Co. increased its position in SPS Commerce by 69.4% in 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 grew its position 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 purchasing an additional 16,357 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPSC. Stifel Nicolaus reduced their price target on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Northland Securities reaffirmed a “market perform” rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Robert W. Baird dropped their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Citigroup lowered their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Stock Performance

SPSC stock opened at $132.73 on Friday. SPS Commerce, Inc. has a fifty-two week low of $130.36 and a fifty-two week high of $218.61. The business’s 50 day moving average price is $170.68 and its two-hundred day moving average price is $183.03. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 65.06 and a beta of 0.88.

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

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 2,591 shares of the company’s 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 transaction, the executive vice president now directly owns 1,367,584 shares of the company’s stock, valued at approximately $202,429,783.68. This represents a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,695 shares of company stock valued at $7,781,086 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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.