SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 4.3% during the third quarter, according to the company in 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 quarter. Principal Financial Group Inc. owned approximately 0.49% of SPS Commerce worth $35,799,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of SPS Commerce by 140.8% in the 3rd 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. Advisors Asset Management Inc. lifted its holdings in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. Signaturefd LLC grew its position in shares of SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker's stock valued at $65,000 after purchasing an additional 69 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker's stock worth $68,000 after purchasing an additional 326 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of SPS Commerce by 63.0% during the 3rd quarter. Huntington National Bank now owns 445 shares of the software maker's stock worth $86,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Piper Sandler assumed coverage on shares of SPS Commerce in a research note on Monday, November 25th. They issued a "neutral" rating and a $198.00 target price for the company. Stifel Nicolaus raised their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $220.78.

Insider Activity

In other news, CEO Chadwick Collins sold 6,839 shares of the company's 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 owns 54,446 shares of the company's stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now owns 23,833 shares of the company's stock, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

SPS Commerce Price Performance

NASDAQ:SPSC traded up $3.79 during trading hours on Tuesday, reaching $189.95. 72,050 shares of the company were exchanged, compared to its average volume of 185,934. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 90.89 and a beta of 0.86. The stock has a 50 day simple moving average of $186.77 and a 200 day simple moving average of $191.38. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period last year, the company posted $0.53 EPS. The business's quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts predict that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

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.