Allspring Global Investments Holdings LLC Cuts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,165 shares of the software maker's stock after selling 43,874 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.34% of SPS Commerce worth $23,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pathstone Holdings LLC increased its holdings in SPS Commerce by 0.3% in the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker's stock worth $3,820,000 after acquiring an additional 54 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of SPS Commerce by 4.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker's stock worth $256,000 after purchasing an additional 55 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock worth $237,000 after purchasing an additional 58 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in SPS Commerce by 2.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker's stock worth $449,000 after buying an additional 62 shares during the last quarter. Finally, Signaturefd LLC increased its stake in SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker's stock worth $65,000 after buying an additional 69 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the transaction, the executive vice president now owns 22,570 shares of the company's stock, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of 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. In the last ninety days, insiders sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is currently owned by company insiders.

SPS Commerce Stock Up 0.4 %

NASDAQ:SPSC traded up $0.56 on Wednesday, hitting $146.77. The stock had a trading volume of 327,292 shares, compared to its average volume of 282,826. The company has a fifty day moving average price of $183.99 and a two-hundred day moving average price of $187.82. SPS Commerce, Inc. has a 1-year low of $143.39 and a 1-year high of $218.61. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 71.94 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 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%. As a group, analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Wall Street Analyst Weigh In

SPSC has been the topic of several research reports. Citigroup decreased their target price on SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Northland Securities restated a "market perform" rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Piper Sandler dropped their target price on shares of 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 reduced their target price on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Needham & Company LLC lowered their price target on shares of SPS Commerce from $230.00 to $210.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, SPS Commerce has an average rating of "Moderate Buy" and an average price target of $207.11.

SPS Commerce 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.