California Public Employees Retirement System Raises Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

California Public Employees Retirement System grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 121.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,011 shares of the software maker's stock after acquiring an additional 82,370 shares during the period. California Public Employees Retirement System owned 0.40% of SPS Commerce worth $27,601,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in SPS Commerce during the fourth quarter valued at approximately $40,000. Blue Trust Inc. grew its position in shares of SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock valued at $47,000 after purchasing an additional 84 shares in the last quarter. R Squared Ltd purchased a new position in shares of SPS Commerce during the 4th quarter valued at $57,000. Arcadia Investment Management Corp MI bought a new position in shares of SPS Commerce in the fourth quarter worth $57,000. Finally, Trust Co. of Vermont purchased a new stake in shares of SPS Commerce in the fourth quarter worth $69,000. 98.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SPSC shares. 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 note on Tuesday, February 11th. Citigroup lowered their target price on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Stifel Nicolaus dropped their target price on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Robert W. Baird lowered their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Finally, Northland Securities reaffirmed a "market perform" rating and set a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $207.11.

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Insider Activity

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the transaction, the chief financial officer now directly owns 147,002 shares of the company's stock, valued at approximately $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the transaction, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,864 shares of company stock valued at $6,613,078. 1.00% of the stock is currently owned by company insiders.

SPS Commerce Price Performance

SPS Commerce stock traded down $1.67 during mid-day trading on Tuesday, hitting $121.61. The company's stock had a trading volume of 568,892 shares, compared to its average volume of 228,873. The business has a 50 day moving average price of $141.77 and a 200-day moving average price of $171.88. SPS Commerce, Inc. has a 12 month low of $120.09 and a 12 month high of $218.61. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 59.61 and a beta of 0.89.

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 analysts' consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. On average, equities research analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

SPS Commerce Company 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.