SPS Commerce, Inc. (NASDAQ:SPSC) Short Interest Down 20.5% in March

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,010,000 shares, a decline of 20.5% from the March 15th total of 1,270,000 shares. Based on an average daily volume of 343,700 shares, the short-interest ratio is presently 2.9 days. Approximately 2.7% of the company's shares are short sold.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC traded up $2.80 during trading on Wednesday, reaching $132.52. 350,120 shares of the company's stock traded hands, compared to its average volume of 233,123. The stock has a market capitalization of $5.04 billion, a P/E ratio of 64.96 and a beta of 0.89. SPS Commerce has a 12 month low of $120.09 and a 12 month high of $218.61. The company has a 50 day moving average of $132.22 and a 200-day moving average of $167.14.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted 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%. Equities research analysts predict that SPS Commerce will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPSC has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a research note on Wednesday, March 26th. Piper Sandler reduced their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus dropped their price objective on SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Northland Securities reiterated a "market perform" rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Finally, Citigroup dropped their price target on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.89.

Insider Activity

In related news, CEO Chadwick Collins sold 2,840 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the transaction, the chief executive officer now directly owns 5,270,106 shares of the company's stock, valued at approximately $780,608,100.72. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the transaction, the executive vice president now owns 22,570 shares of the company's stock, 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. Insiders have sold 37,864 shares of company stock valued at $6,613,078 in the last three months. Corporate insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On SPS Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of SPSC. Legacy Advisors LLC raised its position in shares of SPS Commerce by 21.9% during the 1st quarter. Legacy Advisors LLC now owns 3,539 shares of the software maker's stock worth $470,000 after buying an additional 636 shares in the last quarter. Advisor Resource Council acquired a new stake in shares of SPS Commerce in the first quarter valued at $439,000. Johnson Investment Counsel Inc. bought a new position in SPS Commerce during the first quarter valued at about $1,816,000. Conestoga Capital Advisors LLC grew its holdings in SPS Commerce by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker's stock worth $167,264,000 after acquiring an additional 11,590 shares during the period. Finally, Precision Wealth Strategies LLC lifted its holdings in SPS Commerce by 6.4% in the 1st quarter. Precision Wealth Strategies LLC now owns 2,084 shares of the software maker's stock valued at $277,000 after acquiring an additional 125 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

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.