SPS Commerce (NASDAQ:SPSC) Stock: Insider Jamie Thingelstad Sells 11,196 Shares

SPS Commerce, Inc. (NASDAQ:SPSC) EVP Jamie Thingelstad sold 11,196 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $81.59, for a total value of $913,481.64. Following the completion of the transaction, the executive vice president directly owned 95,777 shares of the company’s stock, valued at approximately $7,814,445.43. The trade was a 10.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

SPS Commerce Stock Performance

Shares of SPSC opened at $82.85 on Thursday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 22.86 and a beta of 0.66. SPS Commerce, Inc. has a one year low of $49.04 and a one year high of $96.54. The stock’s fifty day moving average is $83.46 and its 200-day moving average is $68.09.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 29th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $197.65 million during the quarter, compared to the consensus estimate of $197.51 million. SPS Commerce had a net margin of 10.65% and a return on equity of 13.72%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. Analysts forecast that SPS Commerce, Inc. will post 3.68 EPS for the current fiscal year.

Institutional Investors Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in SPS Commerce in the 2nd quarter valued at about $339,259,000. Jupiter Topco LLC acquired a new position in shares of SPS Commerce in the 2nd quarter worth approximately $56,260,000. Bessemer Group Inc. grew its stake in shares of SPS Commerce by 540.5% in the 3rd quarter. Bessemer Group Inc. now owns 766,101 shares of the software maker’s stock worth $63,157,000 after purchasing an additional 646,483 shares during the last quarter. Walleye Capital LLC grew its stake in shares of SPS Commerce by 1,749.1% in the 1st quarter. Walleye Capital LLC now owns 457,635 shares of the software maker’s stock worth $25,477,000 after purchasing an additional 432,886 shares during the last quarter. Finally, Lightrock Netherlands B.V. raised its holdings in shares of SPS Commerce by 432.8% in the 1st quarter. Lightrock Netherlands B.V. now owns 441,669 shares of the software maker’s stock worth $24,588,000 after purchasing an additional 358,771 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPSC. DA Davidson increased their price objective on shares of SPS Commerce from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Morgan Stanley reiterated an “underweight” rating and set a $74.00 price objective on shares of SPS Commerce in a research note on Monday, October 26th. Zacks Research raised SPS Commerce from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price (up from $60.00) on shares of SPS Commerce in a research report on Friday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price (up from $75.00) on shares of SPS Commerce in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.33.

SPS Commerce Company Profile

SPS Commerce provides cloud-based supply chain management software and services, with a focus on helping retailers, suppliers, distributors and logistics providers exchange business information and coordinate transactions. Its platform connects trading partners and supports electronic data interchange (EDI), order processing and fulfillment workflows. The company also offers tools for supply chain analytics and product information management, along with implementation and ongoing support services.