Allspring Global Investments Holdings LLC Lowers Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Allspring Global Investments Holdings LLC cut its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 25.5% in the 4th quarter, Holdings Channel reports. The fund owned 128,165 shares of the software maker’s stock after selling 43,874 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SPS Commerce were worth $23,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. increased its stake in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares during the period. R Squared Ltd purchased a new position in SPS Commerce during the 4th quarter worth $57,000. Signaturefd LLC lifted 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 acquiring an additional 69 shares during the period. Finally, Avior Wealth Management LLC boosted 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. 98.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPSC. Robert W. Baird cut their price target on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC cut their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Piper Sandler decreased their price target 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. Northland Securities reiterated a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Finally, Citigroup decreased their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Trading Down 1.5 %

Shares of SPSC opened at $146.21 on Friday. SPS Commerce, Inc. has a 12-month low of $145.90 and a 12-month high of $218.61. The stock has a market cap of $5.49 billion, a P/E ratio of 69.96 and a beta of 0.88. The company has a 50-day moving average of $184.98 and a two-hundred day moving average of $188.45.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. As a group, analysts forecast that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the transaction, the chief financial officer now owns 147,002 shares in the company, valued at approximately $26,620,592.18. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,230 shares of company stock worth $6,379,187 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

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.