Focus Financial Network Inc. Cuts Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Focus Financial Network Inc. lowered its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,946 shares of the software maker's stock after selling 2,045 shares during the quarter. Focus Financial Network Inc.'s holdings in SPS Commerce were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SPSC. Blue Trust Inc. boosted its holdings in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. R Squared Ltd bought a new stake in SPS Commerce in the fourth quarter valued at approximately $57,000. Signaturefd LLC boosted its holdings in SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker's stock valued at $65,000 after acquiring an additional 69 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in SPS Commerce by 1,358.3% in the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker's stock valued at $68,000 after acquiring an additional 326 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 9,819 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was 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 approximately $4,167,776.20. The trade was a 30.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the sale, the chief financial officer now owns 147,002 shares in the company, valued at $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,230 shares of company stock worth $6,379,187 in the last ninety days. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SPSC shares. Needham & Company LLC cut their price target on SPS Commerce from $230.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday. Piper Sandler cut their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday. Citigroup cut their price target on SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Northland Securities restated a "market perform" rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a report on Tuesday. Finally, Robert W. Baird cut their price target on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday. Six 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, SPS Commerce currently has a consensus rating of "Moderate Buy" and an average target price of $207.11.

SPS Commerce Price Performance

Shares of NASDAQ SPSC traded down $2.29 during mid-day trading on Friday, reaching $146.21. 421,317 shares of the company's stock were exchanged, compared to its average volume of 214,352. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 69.96 and a beta of 0.88. SPS Commerce, Inc. has a 52 week low of $145.90 and a 52 week high of $218.61. The firm has a 50-day moving average price of $184.98 and a two-hundred day moving average price of $188.45.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results 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 return on equity of 12.60% and a net margin of 12.83%. As a group, sell-side 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.