Wellington Management Group LLP Lowers Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Wellington Management Group LLP decreased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 23.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,343 shares of the software maker's stock after selling 80,373 shares during the period. Wellington Management Group LLP owned 0.69% of SPS Commerce worth $50,551,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the period. Advisors Asset Management Inc. boosted its holdings in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock worth $34,000 after purchasing an additional 100 shares during the last quarter. DT Investment Partners LLC purchased a new position in SPS Commerce during the second quarter worth about $63,000. Signaturefd LLC boosted its stake in shares of SPS Commerce by 26.0% in the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker's stock worth $65,000 after buying an additional 69 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of SPS Commerce by 1,358.3% in the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker's stock valued at $68,000 after acquiring an additional 326 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value 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. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

SPSC has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Robert W. Baird increased their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Piper Sandler initiated coverage on shares of SPS Commerce in a research note on Monday, November 25th. They set a "neutral" rating and a $198.00 price target on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $220.78.

SPS Commerce Stock Up 0.0 %

Shares of SPSC stock traded up $0.04 during trading on Thursday, hitting $197.02. The company had a trading volume of 42,048 shares, compared to its average volume of 183,881. The stock's 50-day moving average is $186.83 and its two-hundred day moving average is $191.17. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 94.25 and a beta of 0.86. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. During the same quarter in the prior year, the firm earned $0.53 EPS. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts predict that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

SPS Commerce Company 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.