Pembroke Management LTD Sells 24,221 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Pembroke Management LTD cut its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 32.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,360 shares of the software maker’s stock after selling 24,221 shares during the period. Pembroke Management LTD owned approximately 0.14% of SPS Commerce worth $9,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Truist Financial Corp increased its holdings in SPS Commerce by 8.4% in the fourth quarter. Truist Financial Corp now owns 11,953 shares of the software maker’s stock worth $2,199,000 after purchasing an additional 930 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of SPS Commerce by 4.9% during the 4th quarter. Principal Financial Group Inc. now owns 193,403 shares of the software maker’s stock worth $35,584,000 after buying an additional 9,034 shares during the period. Principal Securities Inc. increased its stake in shares of SPS Commerce by 16.0% in the 4th quarter. Principal Securities Inc. now owns 1,648 shares of the software maker’s stock valued at $303,000 after acquiring an additional 227 shares in the last quarter. Rhumbline Advisers lifted its position in shares of SPS Commerce by 1.0% during the 4th quarter. Rhumbline Advisers now owns 103,730 shares of the software maker’s stock valued at $19,085,000 after acquiring an additional 1,029 shares during the period. Finally, Blue Trust Inc. boosted its stake in SPS Commerce by 49.1% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after acquiring an additional 84 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,230 shares of company stock valued at $6,379,187 over the last three months. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

SPSC opened at $146.21 on Tuesday. SPS Commerce, Inc. has a 1 year low of $145.90 and a 1 year high of $218.61. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 69.96 and a beta of 0.88. The firm’s fifty day moving average price is $183.99 and its two-hundred day moving average price is $187.82.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. As a group, equities analysts anticipate that SPS Commerce, Inc. will post 2.38 EPS for the current year.

Analyst Ratings Changes

SPSC has been the subject of several research analyst reports. Needham & Company LLC decreased their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Piper Sandler decreased their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Northland Securities reiterated 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 decreased their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Citigroup cut their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and an average price target of $207.11.

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.