Daiwa Securities Group Inc. Cuts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Daiwa Securities Group Inc. trimmed its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,834 shares of the software maker’s stock after selling 200 shares during the quarter. Daiwa Securities Group Inc.’s holdings in SPS Commerce were worth $1,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after acquiring an additional 16,357 shares during the last quarter. Geode Capital Management LLC boosted its stake in SPS Commerce by 1.5% in the third quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock valued at $182,287,000 after acquiring an additional 14,174 shares during the last quarter. FMR LLC boosted its stake in SPS Commerce by 18.3% in the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after acquiring an additional 104,769 shares during the last quarter. Geneva Capital Management LLC boosted its stake in SPS Commerce by 31.1% in the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock valued at $107,045,000 after acquiring an additional 138,014 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in SPS Commerce by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker’s stock valued at $88,576,000 after acquiring an additional 16,272 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SPSC shares. Piper Sandler dropped their target price on shares of 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 dropped their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Northland Securities restated a “market perform” rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Citigroup dropped their price target on shares of 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, Needham & Company LLC dropped their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction on Wednesday, February 5th. The stock was 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 directly owns 147,002 shares in the company, valued at $26,620,592.18. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,695 shares of company stock valued at $7,781,086. Company insiders own 1.00% of the company’s stock.

SPS Commerce Trading Up 5.2 %

SPS Commerce stock opened at $129.43 on Friday. The firm’s 50 day simple moving average is $163.76 and its 200 day simple moving average is $180.25. The firm has a market capitalization of $4.89 billion, a PE ratio of 63.45 and a beta of 0.92. SPS Commerce, Inc. has a 1-year low of $122.58 and a 1-year high of $218.61.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current 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.