Principal Financial Group Inc. Sells 8,215 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Principal Financial Group Inc. decreased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 4.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 184,369 shares of the software maker's stock after selling 8,215 shares during the period. Principal Financial Group Inc. owned 0.49% of SPS Commerce worth $35,799,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mather Group LLC. boosted its position in SPS Commerce by 800.0% in the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker's stock valued at $27,000 after buying an additional 128 shares during the period. Opal Wealth Advisors LLC acquired a new position in SPS Commerce during the second quarter worth $30,000. Blue Trust Inc. lifted its stake in shares of SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock worth $32,000 after buying an additional 100 shares in the last quarter. DT Investment Partners LLC purchased a new position in SPS Commerce during the second quarter worth about $63,000. Finally, Signaturefd LLC increased its position in shares of SPS Commerce by 26.0% during the third quarter. Signaturefd LLC now owns 334 shares of the software maker's stock valued at $65,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 98.96% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. DA Davidson upped their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Needham & Company LLC reissued a "buy" rating and issued a $230.00 price objective on shares of SPS Commerce in a research note on Friday, October 25th. Northland Securities lowered shares of SPS Commerce from an "outperform" rating to a "market perform" rating and upped their target price for the company from $205.00 to $209.00 in a report on Monday, July 29th. Craig Hallum increased their price objective on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Finally, Northland Capmk downgraded shares of SPS Commerce from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $223.63.

SPS Commerce Trading Down 0.2 %

NASDAQ:SPSC traded down $0.40 on Tuesday, hitting $186.77. 174,229 shares of the company's stock traded hands, compared to its average volume of 184,606. The company has a market cap of $7.02 billion, a PE ratio of 89.56 and a beta of 0.84. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74. The firm has a 50-day moving average price of $187.77 and a 200-day moving average price of $191.32.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analysts' expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. SPS Commerce's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. On average, research analysts forecast that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Activity

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

SPS Commerce Profile

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.