Teachers Retirement System of The State of Kentucky Sells 6,266 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Teachers Retirement System of The State of Kentucky cut its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 35.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,428 shares of the software maker's stock after selling 6,266 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in SPS Commerce were worth $2,103,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of SPS Commerce by 109.7% in the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after purchasing an additional 742,686 shares during the last quarter. Norges Bank acquired a new position in shares of SPS Commerce during the 4th quarter valued at about $81,543,000. JPMorgan Chase & Co. raised its stake in shares of SPS Commerce by 99.3% in the 4th quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock valued at $93,286,000 after acquiring an additional 252,575 shares in the last quarter. Franklin Resources Inc. lifted its holdings in SPS Commerce by 94.5% in the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker's stock worth $84,747,000 after purchasing an additional 210,284 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in SPS Commerce during the fourth quarter worth approximately $27,441,000. 98.96% of the stock is owned by institutional investors.

Insider Buying and Selling at SPS Commerce

In other news, CEO Chadwick Collins sold 2,840 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the sale, the chief executive officer now owns 5,270,106 shares of the company's stock, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the transaction, the executive vice president now directly owns 22,570 shares of the company's stock, valued at $4,167,776.20. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $6,613,078 over the last three months. Company insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of recent analyst reports. Northland Securities reissued a "market perform" rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Robert W. Baird upped their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday. Piper Sandler dropped their price objective 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 cut their price objective on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a research report on Friday. Four equities research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $198.11.

SPS Commerce Trading Down 0.9 %

Shares of NASDAQ SPSC opened at $137.81 on Friday. SPS Commerce, Inc. has a one year low of $120.09 and a one year high of $218.61. The business has a fifty day simple moving average of $131.91 and a 200 day simple moving average of $166.41. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 67.55 and a beta of 0.89.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The company had revenue of $181.55 million during the quarter, compared to the consensus estimate of $179.57 million. During the same period last year, the firm earned $0.86 EPS. On average, research analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

SPS Commerce 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.

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