Walleye Capital LLC Decreases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Walleye Capital LLC cut its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 52.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,525 shares of the software maker's stock after selling 3,911 shares during the quarter. Walleye Capital LLC's holdings in SPS Commerce were worth $684,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. grew its stake in shares of SPS Commerce by 800.0% in the 2nd 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 during the second quarter worth approximately $30,000. Blue Trust Inc. raised its position in SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares during the period. Advisors Asset Management Inc. raised its position in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after purchasing an additional 100 shares during the period. Finally, DT Investment Partners LLC bought a new stake in shares of SPS Commerce in the 2nd quarter valued at approximately $63,000. Institutional investors own 98.96% of the company's stock.

SPS Commerce Price Performance

SPSC stock traded up $3.19 during mid-day trading on Friday, reaching $192.79. The company had a trading volume of 125,208 shares, compared to its average volume of 189,589. SPS Commerce, Inc. has a 12 month low of $160.58 and a 12 month high of $218.74. The firm has a 50 day moving average of $186.52 and a 200 day moving average of $191.09. The company has a market capitalization of $7.24 billion, a PE ratio of 92.24 and a beta of 0.86.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analysts' expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company's quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. Analysts anticipate that SPS Commerce, Inc. will post 2.38 EPS for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SPSC shares. Needham & Company LLC restated a "buy" rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Piper Sandler started coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a "neutral" rating and a $198.00 target price for the company. Finally, Stifel Nicolaus upped their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, SPS Commerce has a consensus rating of "Moderate Buy" and a consensus price target of $220.78.

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.