Algert Global LLC Sells 9,300 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Algert Global LLC decreased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 49.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,375 shares of the software maker's stock after selling 9,300 shares during the period. Algert Global LLC's holdings in SPS Commerce were worth $1,820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its stake in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker's stock worth $27,000 after buying an additional 128 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in SPS Commerce in the 2nd quarter worth about $30,000. Blue Trust Inc. raised its position in 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 during the last quarter. Advisors Asset Management Inc. lifted its stake in SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after acquiring an additional 100 shares during the period. Finally, DT Investment Partners LLC purchased a new stake in shares of SPS Commerce during the 2nd quarter valued at about $63,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPSC. Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Piper Sandler initiated coverage on SPS Commerce in a research note on Monday. They issued a "neutral" rating and a $198.00 price target on the stock. Robert W. Baird increased their price objective 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. Finally, Stifel Nicolaus boosted their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $220.78.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company's stock.

SPS Commerce Stock Down 0.4 %

SPSC stock traded down $0.75 during trading on Thursday, reaching $192.57. The company's stock had a trading volume of 157,390 shares, compared to its average volume of 186,441. The company's fifty day moving average is $186.66 and its 200-day moving average is $191.27. The company has a market capitalization of $7.23 billion, a P/E ratio of 92.14 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.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) 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 firm had revenue of $163.69 million during the quarter, compared to analysts' expectations of $160.30 million. During the same quarter last year, the business posted $0.53 earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. Analysts anticipate 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.