Teachers Retirement System of The State of Kentucky Sells 397 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 2.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 17,694 shares of the software maker’s stock after selling 397 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in SPS Commerce were worth $3,436,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. DT Investment Partners LLC bought a new position in shares of SPS Commerce in the 2nd quarter worth $63,000. Signaturefd LLC lifted its stake in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after purchasing an additional 69 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in SPS Commerce by 1,358.3% during the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Analysts Set New Price Targets

SPSC has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Piper Sandler started coverage on shares of SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price on the stock. 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 research note on Friday, October 25th. Finally, Robert W. Baird lifted their price objective 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. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

Insider Transactions at SPS Commerce

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

SPS Commerce Price Performance

NASDAQ:SPSC opened at $192.38 on Friday. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The firm has a market capitalization of $7.23 billion, a P/E ratio of 92.05 and a beta of 0.86. The company’s fifty day moving average price is $187.10 and its 200-day moving average price is $191.19.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Equities analysts anticipate that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

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.