KLP Kapitalforvaltning AS Makes New $1.42 Million Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

KLP Kapitalforvaltning AS acquired a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,700 shares of the software maker's stock, valued at approximately $1,417,000.

A number of other hedge funds have also modified their holdings of SPSC. Coldstream Capital Management Inc. grew its stake in shares of SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock worth $237,000 after acquiring an additional 58 shares in the last quarter. Amalgamated Bank grew its position in SPS Commerce by 0.6% in the fourth quarter. Amalgamated Bank now owns 11,005 shares of the software maker's stock valued at $2,025,000 after purchasing an additional 61 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its position in SPS Commerce by 6.0% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,255 shares of the software maker's stock valued at $231,000 after purchasing an additional 71 shares in the last quarter. Blue Trust Inc. increased its stake in SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock valued at $47,000 after buying an additional 84 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in SPS Commerce by 1.1% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,020 shares of the software maker's stock worth $1,476,000 after buying an additional 91 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other news, CEO Chadwick Collins sold 2,840 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the sale, the chief executive officer now directly owns 5,270,106 shares of the company's stock, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dan Juckniess sold 2,591 shares of SPS Commerce stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total transaction of $383,519.82. Following the transaction, the executive vice president now directly owns 1,367,584 shares of the company's stock, valued at $202,429,783.68. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock valued at $6,613,078 over the last 90 days. 1.00% of the stock is owned by insiders.

SPS Commerce Stock Down 5.8 %

SPS Commerce stock traded down $8.03 during trading hours on Thursday, hitting $129.63. The stock had a trading volume of 443,846 shares, compared to its average volume of 223,479. The business's 50 day simple moving average is $147.26 and its 200-day simple moving average is $173.99. SPS Commerce, Inc. has a one year low of $122.58 and a one year high of $218.61. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 63.54 and a beta of 0.92.

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 (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPSC. Northland Securities restated a "market perform" rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Robert W. Baird dropped their target price on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a research note on Wednesday, March 26th. Citigroup lowered their price target 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. Finally, Piper Sandler lowered their price objective on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $207.11.

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.