SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Pembroke Management LTD

Pembroke Management LTD cut its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,360 shares of the software maker's stock after selling 24,221 shares during the quarter. Pembroke Management LTD owned 0.14% of SPS Commerce worth $9,450,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its stake in shares of SPS Commerce by 209.6% in the third quarter. Barclays PLC now owns 66,387 shares of the software maker's stock valued at $12,890,000 after buying an additional 44,946 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of SPS Commerce in the third quarter valued at approximately $3,178,000. Synovus Financial Corp purchased a new stake in shares of SPS Commerce in the third quarter valued at approximately $1,809,000. JPMorgan Chase & Co. boosted its stake in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker's stock valued at $49,404,000 after buying an additional 104,210 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker's stock valued at $280,398,000 after buying an additional 16,357 shares in the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on SPSC. Stifel Nicolaus decreased their target price on SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Citigroup decreased their target price on SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Piper Sandler decreased their target price 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. Needham & Company LLC decreased their price objective on SPS Commerce from $230.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Robert W. Baird decreased their price objective on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Six equities 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 a consensus rating of "Moderate Buy" and an average price target of $207.11.

SPS Commerce Stock Performance

NASDAQ SPSC traded down $2.32 during trading hours on Friday, hitting $141.22. 662,699 shares of the company's stock were exchanged, compared to its average volume of 301,326. The business's 50 day moving average is $179.85 and its 200-day moving average is $186.50. SPS Commerce, Inc. has a 12-month low of $139.59 and a 12-month high of $218.61. The firm has a market capitalization of $5.31 billion, a P/E ratio of 69.23 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its 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%. As a group, equities research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 2,840 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now owns 23,833 shares in the company, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,695 shares of company stock worth $7,781,086. 1.00% of the stock is owned by company insiders.

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.