Laurus Investment Counsel Inc. Sells 5,070 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Laurus Investment Counsel Inc. trimmed its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 40.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,340 shares of the software maker's stock after selling 5,070 shares during the period. Laurus Investment Counsel Inc.'s holdings in SPS Commerce were worth $1,425,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mather Group LLC. boosted its holdings in SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker's stock valued at $27,000 after acquiring an additional 128 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of SPS Commerce during the second quarter valued at approximately $30,000. Fidelis Capital Partners LLC bought a new position in shares of SPS Commerce in the first quarter worth approximately $60,000. DT Investment Partners LLC purchased a new position in shares of SPS Commerce in the second quarter worth $63,000. Finally, NBC Securities Inc. raised its holdings in SPS Commerce by 73.7% during the 1st quarter. NBC Securities Inc. now owns 363 shares of the software maker's stock valued at $67,000 after buying an additional 154 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPSC. Northland Capmk lowered shares of SPS Commerce from a "strong-buy" rating to a "hold" rating in a report on Monday, July 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday, August 2nd. Robert W. Baird increased their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a "neutral" rating in a report on Friday, July 26th. Northland Securities cut SPS Commerce from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $205.00 to $209.00 in a research note on Monday, July 29th. Finally, DA Davidson raised their price target on SPS Commerce from $225.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $220.25.

SPS Commerce Trading Down 0.8 %

SPSC traded down $1.51 during trading on Friday, reaching $192.82. The stock had a trading volume of 154,168 shares, compared to its average volume of 177,813. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 100.43 and a beta of 0.82. The stock's 50 day moving average is $193.54 and its two-hundred day moving average is $190.14. SPS Commerce, Inc. has a one year low of $151.96 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The company had revenue of $153.60 million during the quarter, compared to analyst estimates of $151.87 million. During the same period last year, the business earned $0.42 EPS. SPS Commerce's quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts predict that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

Insider Activity

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the business's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the sale, the director now directly owns 16,212 shares of the company's stock, valued at approximately $3,264,286.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% 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.