American Capital Management Inc. Cuts Position in SPS Commerce, Inc. (NASDAQ:SPSC)

American Capital Management Inc. cut its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,407 shares of the software maker's stock after selling 6,931 shares during the quarter. American Capital Management Inc. owned 0.45% of SPS Commerce worth $32,700,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Mather Group LLC. lifted its holdings in SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker's stock valued at $27,000 after acquiring an additional 128 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of SPS Commerce in the second quarter valued at about $30,000. Blue Trust Inc. boosted its holdings in SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock worth $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. grew its position in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock worth $34,000 after buying an additional 100 shares during the period. Finally, DT Investment Partners LLC purchased a new position in SPS Commerce in the second quarter valued at about $63,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SPSC. Needham & Company LLC reissued a "buy" rating and set a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Piper Sandler began coverage on SPS Commerce in a research report on Monday, November 25th. They set a "neutral" rating and a $198.00 target price on the stock. Stifel Nicolaus raised their price target on SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Six equities 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.com, SPS Commerce presently has an average rating of "Moderate Buy" and a consensus price target of $220.78.

Insiders Place Their Bets

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the chief executive officer now directly owns 54,446 shares of the company's stock, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

SPS Commerce Stock Performance

SPS Commerce stock traded up $0.50 during midday trading on Friday, reaching $193.07. 82,216 shares of the company were exchanged, compared to its average volume of 218,711. The firm's 50-day simple moving average is $186.56 and its 200-day simple moving average is $191.20. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 92.38 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, analysts forecast that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

About SPS Commerce

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.