SPS Commerce, Inc. (NASDAQ:SPSC) CFO Sells $1,715,677.20 in Stock

SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson sold 9,290 shares of the company’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 sale, the chief financial officer now directly owns 156,292 shares in the company, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

SPS Commerce Stock Performance

Shares of SPSC opened at $182.16 on Thursday. The firm has a market capitalization of $6.84 billion, a P/E ratio of 87.16 and a beta of 0.88. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74. The stock has a 50 day moving average price of $189.21 and a two-hundred day moving average price of $190.64.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPSC. Stifel Nicolaus dropped their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research report on Wednesday, January 15th. Piper Sandler began coverage on shares of SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 target price on the stock. Citigroup decreased 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. Finally, Robert W. Baird increased their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Six 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 stock presently has an average rating of “Moderate Buy” and an average price target of $219.22.

Institutional Investors Weigh In On SPS Commerce

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in SPS Commerce by 19.2% during the 2nd quarter. AQR Capital Management LLC now owns 14,856 shares of the software maker’s stock valued at $2,795,000 after acquiring an additional 2,391 shares in the last quarter. Millennium Management LLC raised its holdings in shares of SPS Commerce by 4.3% in the second quarter. Millennium Management LLC now owns 97,036 shares of the software maker’s stock valued at $18,258,000 after purchasing an additional 4,045 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of SPS Commerce by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 21,716 shares of the software maker’s stock valued at $4,086,000 after purchasing an additional 934 shares in the last quarter. Creative Planning boosted its holdings in SPS Commerce by 28.9% during the second quarter. Creative Planning now owns 8,865 shares of the software maker’s stock worth $1,668,000 after purchasing an additional 1,987 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in SPS Commerce in the 2nd quarter worth about $517,000. Institutional investors own 98.96% of the company’s stock.

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.