Illinois Municipal Retirement Fund Decreases Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Illinois Municipal Retirement Fund decreased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,065 shares of the software maker’s stock after selling 1,175 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of SPS Commerce worth $4,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SPSC. Amalgamated Bank boosted its stake in SPS Commerce by 0.6% during the 4th 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 bought a new position in shares of SPS Commerce during the fourth quarter valued at $57,000. Alberta Investment Management Corp bought a new position in shares of SPS Commerce during the fourth quarter valued at $1,446,000. New York State Common Retirement Fund boosted its position 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 buying an additional 20,760 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in SPS Commerce by 8.4% in the 4th quarter. Truist Financial Corp now owns 11,953 shares of the software maker’s stock worth $2,199,000 after buying an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In other news, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,695 shares of company stock valued at $7,781,086. Insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of NASDAQ SPSC opened at $135.94 on Thursday. The stock has a market cap of $5.13 billion, a PE ratio of 66.64 and a beta of 0.88. The firm has a fifty day moving average price of $176.31 and a 200-day moving average price of $185.23. SPS Commerce, Inc. has a 1 year low of $135.65 and a 1 year high of $218.61.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. On average, research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SPSC shares. Citigroup lowered their target price 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. Robert W. Baird lowered their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler cut their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC lowered their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their price target on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

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.