NFJ Investment Group LLC Sells 1,664 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

NFJ Investment Group LLC lessened its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,319 shares of the software maker’s stock after selling 1,664 shares during the period. NFJ Investment Group LLC’s holdings in SPS Commerce were worth $3,169,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of SPS Commerce by 79.0% during the 2nd quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker’s stock valued at $1,562,000 after buying an additional 3,662 shares in the last quarter. AXA S.A. increased its stake in SPS Commerce by 19.4% during the second quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock worth $5,530,000 after acquiring an additional 4,784 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in SPS Commerce during the third quarter valued at approximately $3,178,000. Hsbc Holdings PLC lifted its stake in shares of SPS Commerce by 448.2% in the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock valued at $6,295,000 after purchasing an additional 27,376 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of SPS Commerce by 9,418.6% in the 3rd quarter. International Assets Investment Management LLC now owns 9,709 shares of the software maker’s stock valued at $1,885,000 after purchasing an additional 9,607 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Transactions at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of SPSC stock opened at $191.67 on Wednesday. The company has a market capitalization of $7.20 billion, a P/E ratio of 91.71 and a beta of 0.86. The company’s 50-day simple moving average is $186.43 and its two-hundred day simple moving average is $191.14. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SPSC. Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Stifel Nicolaus upped their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.78.

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.