Kimberly K. Nelson Sells 9,290 Shares of SPS Commerce, Inc. (NASDAQ:SPSC) Stock

SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now directly owns 156,292 shares in the company, valued at $28,864,006.56. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SPS Commerce Stock Up 0.6 %

SPSC opened at $181.19 on Wednesday. The firm has a 50 day moving average price of $189.42 and a 200-day moving average price of $190.70. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 86.69 and a beta of 0.88.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in shares of SPS Commerce by 0.6% during the fourth quarter. Amalgamated Bank now owns 11,005 shares of the software maker’s stock valued at $2,025,000 after purchasing an additional 61 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of SPS Commerce during the fourth quarter valued at approximately $57,000. Alberta Investment Management Corp purchased a new position in shares of SPS Commerce during the fourth quarter valued at approximately $1,446,000. New York State Common Retirement Fund raised its holdings in shares of SPS Commerce by 50.0% during the fourth quarter. New York State Common Retirement Fund now owns 62,284 shares of the software maker’s stock valued at $11,460,000 after purchasing an additional 20,760 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of SPS Commerce by 8.4% during the fourth quarter. Truist Financial Corp now owns 11,953 shares of the software maker’s stock valued at $2,199,000 after purchasing an additional 930 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPSC has been the topic of several research reports. Citigroup dropped their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Stifel Nicolaus dropped their price objective on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Piper Sandler initiated coverage on shares of SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective on the stock. Robert W. Baird boosted 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $219.22.

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.