Oak Ridge Investments LLC Sells 751 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Oak Ridge Investments LLC reduced its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,120 shares of the software maker’s stock after selling 751 shares during the period. Oak Ridge Investments LLC’s holdings in SPS Commerce were worth $4,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Diversify Wealth Management LLC increased its position in SPS Commerce by 8.7% during the 3rd quarter. Diversify Wealth Management LLC now owns 3,555 shares of the software maker’s stock worth $675,000 after purchasing an additional 285 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of SPS Commerce by 2.8% during the third quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock valued at $449,000 after purchasing an additional 62 shares in the last quarter. Smith Group Asset Management LLC raised its holdings in SPS Commerce by 25.9% in the 3rd quarter. Smith Group Asset Management LLC now owns 3,533 shares of the software maker’s stock valued at $686,000 after buying an additional 726 shares during the last quarter. Cavalier Investments LLC boosted its position in SPS Commerce by 6.2% during the 3rd quarter. Cavalier Investments LLC now owns 10,673 shares of the software maker’s stock worth $2,072,000 after buying an additional 621 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in SPS Commerce by 4.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock worth $256,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of recent research reports. Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus lifted their price objective on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Craig Hallum boosted their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.63.

SPS Commerce Stock Down 2.4 %

Shares of SPS Commerce stock opened at $165.00 on Friday. The business has a 50 day moving average price of $191.20 and a 200-day moving average price of $190.60. SPS Commerce, Inc. has a 52 week low of $157.48 and a 52 week high of $218.74. The company has a market cap of $6.20 billion, a PE ratio of 78.95 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same period in the previous year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.39 EPS for the current year.

Insider Transactions at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% 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.