Public Sector Pension Investment Board Decreases Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Public Sector Pension Investment Board lessened its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,741 shares of the software maker's stock after selling 2,700 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of SPS Commerce worth $15,289,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Shaker Investments LLC OH raised its stake in SPS Commerce by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker's stock valued at $564,000 after purchasing an additional 50 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of SPS Commerce by 0.3% in the third quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker's stock valued at $3,820,000 after buying an additional 54 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of SPS Commerce by 4.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker's stock worth $256,000 after buying an additional 55 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in SPS Commerce by 2.8% during the third quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker's stock worth $449,000 after acquiring an additional 62 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in SPS Commerce by 1.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker's stock valued at $707,000 after acquiring an additional 67 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares of the company's stock, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

SPS Commerce Trading Up 0.3 %

SPSC traded up $0.50 on Friday, hitting $193.07. The company had a trading volume of 82,215 shares, compared to its average volume of 185,990. The company's fifty day moving average price is $186.60 and its 200 day moving average price is $191.28. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74. The firm has a market cap of $7.25 billion, a P/E ratio of 92.38 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business's revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. On average, analysts predict that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

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.