SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,039 shares of the software maker's stock after selling 23,980 shares during the period. Allspring Global Investments Holdings LLC owned about 0.46% of SPS Commerce worth $33,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Shaker Investments LLC OH grew its stake in SPS Commerce by 1.7% during the 2nd quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker's stock valued at $564,000 after acquiring an additional 50 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in SPS Commerce by 1.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker's stock valued at $707,000 after purchasing an additional 67 shares during the last quarter. XTX Topco Ltd boosted its holdings in SPS Commerce by 4.9% in the 2nd quarter. XTX Topco Ltd now owns 1,744 shares of the software maker's stock valued at $328,000 after purchasing an additional 82 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in SPS Commerce by 7.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the software maker's stock valued at $226,000 after purchasing an additional 83 shares during the last quarter. Finally, CWM LLC boosted its holdings in SPS Commerce by 25.3% in the 2nd quarter. CWM LLC now owns 431 shares of the software maker's stock valued at $81,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Trading Up 0.6 %

NASDAQ:SPSC traded up $1.23 on Thursday, reaching $190.98. The stock had a trading volume of 200,494 shares, compared to its average volume of 177,664. The company has a 50-day moving average of $193.22 and a 200 day moving average of $190.55. The stock has a market cap of $7.09 billion, a P/E ratio of 99.47 and a beta of 0.82. SPS Commerce, Inc. has a 12-month low of $151.96 and a 12-month high of $218.74.

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

Insider Buying and Selling at SPS Commerce

In other news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the transaction, the director now owns 16,212 shares of the company's stock, valued at approximately $3,264,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SPSC. Stifel Nicolaus raised their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, July 26th. DA Davidson boosted their price target on SPS Commerce from $225.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Robert W. Baird boosted their price target on SPS Commerce from $178.00 to $186.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. Northland Capmk lowered SPS Commerce from a "strong-buy" rating to a "hold" rating in a report on Monday, July 29th. Finally, Northland Securities lowered SPS Commerce from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.25.

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.