Federated Hermes Inc. reduced its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,505 shares of the software maker's stock after selling 49,757 shares during the quarter. Federated Hermes Inc. owned about 0.42% of SPS Commerce worth $28,979,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of SPS Commerce during the 4th quarter valued at about $40,000. Hurley Capital LLC purchased a new stake in shares of SPS Commerce during the 4th quarter valued at about $41,000. Blue Trust Inc. lifted its position in shares of SPS Commerce by 49.1% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after purchasing an additional 84 shares in the last quarter. R Squared Ltd purchased a new position in shares of SPS Commerce in the fourth quarter valued at $57,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of SPS Commerce in the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 98.96% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on SPSC shares. Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Stifel Nicolaus reduced their price target on SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Robert W. Baird lowered their price objective on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Northland Securities reiterated a "market perform" rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reissued a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.11.
Read Our Latest Report on SPSC
SPS Commerce Stock Up 0.6 %
Shares of NASDAQ:SPSC traded up $0.79 on Monday, reaching $132.48. 25,319 shares of the company's stock were exchanged, compared to its average volume of 230,619. SPS Commerce, Inc. has a fifty-two week low of $120.09 and a fifty-two week high of $218.61. The business's 50-day moving average is $137.85 and its two-hundred day moving average is $170.22. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 64.94 and a beta of 0.89.
SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares in the company, valued at $4,167,776.20. This trade represents a 30.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the transaction, the chief executive officer now directly owns 5,270,106 shares of the company's stock, valued at $780,608,100.72. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,864 shares of company stock valued at $6,613,078. Insiders own 1.00% of the company's stock.
About SPS Commerce
(
Free Report)
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.
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