Bank of New York Mellon Corp Cuts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Bank of New York Mellon Corp lessened its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 296,573 shares of the software maker's stock after selling 5,316 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of SPS Commerce worth $54,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pathstone Holdings LLC grew its position in 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 acquiring an additional 54 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of SPS Commerce by 4.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker's stock valued at $256,000 after purchasing an additional 55 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock valued at $237,000 after purchasing an additional 58 shares during the last quarter. Blue Trust Inc. increased its position in SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after purchasing an additional 84 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 98.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPSC. Needham & Company LLC decreased their target price on shares of SPS Commerce from $230.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Citigroup lowered their target price on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a report on Monday, January 27th. Stifel Nicolaus dropped their target price on 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 reduced their price target on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, Piper Sandler dropped their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.11.

SPS Commerce Price Performance

Shares of SPSC traded down $0.66 during trading hours on Thursday, hitting $133.17. 118,064 shares of the stock were exchanged, compared to its average volume of 301,942. The firm has a market capitalization of $5.03 billion, a P/E ratio of 65.56 and a beta of 0.88. SPS Commerce, Inc. has a fifty-two week low of $130.36 and a fifty-two week high of $218.61. The business has a 50-day moving average of $170.68 and a 200-day moving average of $183.03.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. As a group, analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Activity at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the transaction, the chief financial officer now owns 156,292 shares of the company's stock, valued at $28,864,006.56. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. The trade was a 19.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,695 shares of company stock valued at $7,781,086. 1.00% of the stock is owned by insiders.

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.