SPS Commerce, Inc. (NASDAQ:SPSC) CEO Sells $420,660.80 in Stock

SPS Commerce, Inc. (NASDAQ:SPSC) CEO Chadwick Collins sold 2,840 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the transaction, the chief executive officer now owns 5,270,106 shares of the company’s stock, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

SPS Commerce Stock Down 2.1 %

NASDAQ SPSC traded down $3.14 during trading on Thursday, hitting $143.54. The company’s stock had a trading volume of 366,034 shares, compared to its average volume of 290,377. The firm has a 50 day moving average price of $180.87 and a 200 day moving average price of $186.85. The firm has a market cap of $5.39 billion, a P/E ratio of 70.36 and a beta of 0.88. SPS Commerce, Inc. has a 52 week low of $142.81 and a 52 week high of $218.61.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SPSC. 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 research report on Tuesday, February 11th. Stifel Nicolaus decreased their price objective on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Piper Sandler reduced their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Robert W. Baird cut their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Citigroup cut their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Institutional Trading of SPS Commerce

A number of institutional investors and hedge funds have recently modified their holdings of SPSC. FMR LLC increased its position in shares of SPS Commerce by 109.7% during the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker’s stock valued at $261,235,000 after purchasing an additional 742,686 shares during the period. Norges Bank bought a new stake in shares of SPS Commerce during the fourth quarter valued at approximately $81,543,000. JPMorgan Chase & Co. increased its position in shares of SPS Commerce by 99.3% during the fourth quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker’s stock valued at $93,286,000 after purchasing an additional 252,575 shares during the period. Franklin Resources Inc. increased its position in shares of SPS Commerce by 94.5% during the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after purchasing an additional 210,284 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of SPS Commerce by 33.4% during the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker’s stock valued at $140,882,000 after purchasing an additional 191,740 shares during the period. 98.96% of the stock is currently owned by institutional investors.

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.