SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,364 shares of the software maker’s stock after selling 3,310 shares during the period. Quantbot Technologies LP’s holdings in SPS Commerce were worth $3,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Barclays PLC lifted its position in SPS Commerce by 209.6% in the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares during the period. Charles Schwab Investment Management Inc. lifted its position in SPS Commerce by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker’s stock worth $88,576,000 after purchasing an additional 16,272 shares during the period. Mutual of America Capital Management LLC lifted its position in SPS Commerce by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker’s stock worth $1,047,000 after purchasing an additional 110 shares during the period. Synovus Financial Corp acquired a new stake in SPS Commerce in the third quarter worth approximately $1,809,000. Finally, JPMorgan Chase & Co. lifted its position in SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares during the period. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Up 1.4 %

Shares of NASDAQ:SPSC opened at $130.13 on Friday. The company’s fifty day moving average is $157.25 and its two-hundred day moving average is $177.26. SPS Commerce, Inc. has a 12-month low of $122.58 and a 12-month high of $218.61. The company has a market cap of $4.92 billion, a P/E ratio of 63.79 and a beta of 0.92.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup cut their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Northland Securities reaffirmed a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Robert W. Baird dropped their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Piper Sandler dropped their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Needham & Company LLC dropped 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. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total transaction of $383,519.82. Following the completion of the sale, the executive vice president now directly owns 1,367,584 shares in the company, valued at approximately $202,429,783.68. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the sale, the chief executive officer now owns 5,270,106 shares of the company’s stock, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,864 shares of company stock worth $6,613,078. Corporate insiders own 1.00% of the company’s stock.

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.