Legal & General Group Plc Has $24.56 Million Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Legal & General Group Plc lowered its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,481 shares of the software maker's stock after selling 4,213 shares during the period. Legal & General Group Plc owned approximately 0.36% of SPS Commerce worth $24,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SPSC. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce during the fourth quarter worth $40,000. Hurley Capital LLC acquired a new position in shares of SPS Commerce during the 4th quarter worth about $41,000. Blue Trust Inc. lifted its holdings 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 buying an additional 84 shares during the last quarter. R Squared Ltd acquired a new position in SPS Commerce during the 4th quarter valued at $57,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of SPS Commerce in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 98.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on SPSC shares. DA Davidson cut their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday. Robert W. Baird reduced their price target on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research report on Wednesday, March 26th. Piper Sandler lowered their price target on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their price objective on SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.89.

SPS Commerce Stock Up 0.3 %

Shares of NASDAQ:SPSC traded up $0.40 during mid-day trading on Friday, reaching $129.06. 243,688 shares of the stock were exchanged, compared to its average volume of 232,479. The stock's 50 day simple moving average is $133.87 and its 200-day simple moving average is $168.78. SPS Commerce, Inc. has a one year low of $120.09 and a one year high of $218.61. The company has a market cap of $4.91 billion, a P/E ratio of 63.27 and a beta of 0.89.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings results 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 anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In related news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now owns 156,292 shares of the company's stock, valued at $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction on 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. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock worth $6,613,078 over the last ninety days. Insiders own 0.98% of the company's stock.

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.