Fenimore Asset Management Inc Lowers Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Fenimore Asset Management Inc cut its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,452 shares of the software maker’s stock after selling 434 shares during the quarter. Fenimore Asset Management Inc’s holdings in SPS Commerce were worth $15,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SPSC. State Street Corp grew its position in SPS Commerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after acquiring an additional 16,357 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of SPS Commerce by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock valued at $242,437,000 after purchasing an additional 21,170 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of SPS Commerce by 1.5% in the third quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock valued at $182,287,000 after purchasing an additional 14,174 shares in the last quarter. FMR LLC increased its stake in SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after buying an additional 104,769 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SPS Commerce by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock worth $90,317,000 after buying an additional 8,186 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SPSC shares. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Wednesday, January 15th. Stifel Nicolaus lowered their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Piper Sandler assumed coverage on SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Six 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, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $191.56 on Friday. The stock’s 50-day simple moving average is $189.19 and its 200-day simple moving average is $191.44. The firm has a market capitalization of $7.20 billion, a PE ratio of 91.66 and a beta of 0.88. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.