Fred Alger Management LLC Sells 27,496 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Fred Alger Management LLC lowered its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 455,903 shares of the software maker’s stock after selling 27,496 shares during the period. Fred Alger Management LLC owned approximately 1.21% of SPS Commerce worth $88,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of SPSC. SG Americas Securities LLC boosted its holdings in SPS Commerce by 79.0% during the 2nd quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker’s stock valued at $1,562,000 after acquiring an additional 3,662 shares during the period. AXA S.A. boosted its stake in shares of SPS Commerce by 19.4% during the second quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock valued at $5,530,000 after purchasing an additional 4,784 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of SPS Commerce during the third quarter valued at $3,178,000. Hsbc Holdings PLC grew its holdings in shares of SPS Commerce by 448.2% in the second quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock worth $6,295,000 after purchasing an additional 27,376 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in SPS Commerce by 9,418.6% during the 3rd quarter. International Assets Investment Management LLC now owns 9,709 shares of the software maker’s stock valued at $1,885,000 after buying an additional 9,607 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Piper Sandler initiated coverage on SPS Commerce in a report on Monday. They set a “neutral” rating and a $198.00 price objective on the stock. Stifel Nicolaus upped their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.78.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $192.57 on Friday. The stock has a market capitalization of $7.23 billion, a P/E ratio of 92.14 and a beta of 0.84. The company’s 50-day simple moving average is $186.60 and its 200-day simple moving average is $191.28. 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 results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts forecast that SPS Commerce, Inc. will post 2.39 EPS for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the firm’s 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 sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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.