Fred Alger Management LLC Sells 27,496 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Fred Alger Management LLC cut its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,903 shares of the software maker's stock after selling 27,496 shares during the period. Fred Alger Management LLC owned approximately 1.21% of SPS Commerce worth $88,523,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mather Group LLC. boosted its stake in shares of SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker's stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in SPS Commerce during the second quarter worth approximately $30,000. Blue Trust Inc. boosted its position 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 purchasing an additional 100 shares during the period. Advisors Asset Management Inc. grew its holdings in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Finally, DT Investment Partners LLC bought a new position in shares of SPS Commerce in the second quarter valued at approximately $63,000. 98.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPSC has been the topic of several recent analyst reports. Piper Sandler initiated coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a "neutral" rating and a $198.00 target price on the stock. Robert W. Baird lifted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Stifel Nicolaus increased their target price on SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, SPS Commerce currently has a consensus rating of "Moderate Buy" and an average price target of $220.78.

Insiders Place Their Bets

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction 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 $9,238,941.74. The trade was a 11.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.00% of the company's stock.

SPS Commerce Stock Up 0.3 %

SPSC traded up $0.50 during midday trading on Friday, reaching $193.07. 82,216 shares of the company's stock were exchanged, compared to its average volume of 185,990. The business has a 50-day simple moving average of $186.56 and a two-hundred day simple moving average of $191.28. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 92.38 and a beta of 0.84. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business's revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

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.