Eagle Asset Management Inc. Sells 23,791 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Eagle Asset Management Inc. reduced its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 26.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,542 shares of the software maker’s stock after selling 23,791 shares during the period. Eagle Asset Management Inc. owned 0.18% of SPS Commerce worth $12,511,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mather Group LLC. boosted its holdings in SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after buying an additional 128 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in SPS Commerce during the 2nd quarter worth approximately $30,000. Blue Trust Inc. grew its holdings 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. grew 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 valued at $34,000 after purchasing an additional 100 shares during the period. Finally, DT Investment Partners LLC bought a new stake in SPS Commerce in the second quarter valued at approximately $63,000. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

SPSC has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Robert W. Baird raised their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $223.63.

SPS Commerce Stock Up 1.5 %

NASDAQ SPSC opened at $189.13 on Friday. The firm’s 50 day moving average is $186.64 and its 200-day moving average is $191.24. The company has a market capitalization of $7.11 billion, a PE ratio of 90.49 and a beta of 0.84. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts expect that SPS Commerce, Inc. will post 2.39 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.