Principal Financial Group Inc. Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Principal Financial Group Inc. increased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,403 shares of the software maker’s stock after purchasing an additional 9,034 shares during the period. Principal Financial Group Inc.’s holdings in SPS Commerce were worth $35,584,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in SPS Commerce in the 3rd quarter worth approximately $3,178,000. Synovus Financial Corp purchased a new position in SPS Commerce in the 3rd quarter worth approximately $1,809,000. JPMorgan Chase & Co. increased its stake in SPS Commerce by 69.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after acquiring an additional 104,210 shares during the last quarter. Finally, State Street Corp increased its stake in SPS Commerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after acquiring an additional 16,357 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 2,591 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the transaction, the executive vice president now owns 1,367,584 shares of the company’s stock, valued at $202,429,783.68. This represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,695 shares of company stock valued at $7,781,086 in the last quarter. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on SPSC shares. Piper Sandler reduced 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. Stifel Nicolaus reduced their price objective on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Needham & Company LLC reduced their price objective on 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 reduced their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Stock Performance

NASDAQ SPSC opened at $141.22 on Friday. The company has a market cap of $5.31 billion, a P/E ratio of 69.23 and a beta of 0.88. The business’s 50 day moving average price is $179.85 and its 200-day moving average price is $186.50. SPS Commerce, Inc. has a fifty-two week low of $139.59 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share 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, equities analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current 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.