Eagle Asset Management Inc. Sells 23,791 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Eagle Asset Management Inc. decreased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 26.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 67,542 shares of the software maker's stock after selling 23,791 shares during the period. Eagle Asset Management Inc. owned approximately 0.18% of SPS Commerce worth $12,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPSC. SG Americas Securities LLC lifted its stake in shares of SPS Commerce by 79.0% in the 2nd quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker's stock valued at $1,562,000 after purchasing an additional 3,662 shares during the period. CANADA LIFE ASSURANCE Co increased its position in SPS Commerce by 11.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,875 shares of the software maker's stock valued at $6,062,000 after buying an additional 3,340 shares in the last quarter. AXA S.A. increased its position in SPS Commerce by 19.4% in the 2nd quarter. AXA S.A. now owns 29,391 shares of the software maker's stock valued at $5,530,000 after buying an additional 4,784 shares in the last quarter. Hsbc Holdings PLC increased its position in SPS Commerce by 448.2% in the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker's stock valued at $6,295,000 after buying an additional 27,376 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in SPS Commerce in the 3rd quarter valued at about $3,178,000. Institutional investors own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPSC shares. Stifel Nicolaus boosted their target price on SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Northland Securities lowered SPS Commerce from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price objective on shares of SPS Commerce in a report on Friday, October 25th. Northland Capmk lowered SPS Commerce from a "strong-buy" rating to a "hold" rating in a report on Monday, July 29th. Finally, Robert W. Baird boosted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $223.63.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC traded up $2.81 during trading on Friday, hitting $189.13. 388,881 shares of the company were exchanged, compared to its average volume of 261,806. The company has a market cap of $7.11 billion, a PE ratio of 90.49 and a beta of 0.84. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The stock has a 50 day moving average of $186.64 and a 200 day moving average of $191.24.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analysts' expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Sell-side analysts forecast that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 54,446 shares of the company's stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

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.