Pitcairn Co. Sells 587 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Pitcairn Co. decreased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 12.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,165 shares of the software maker’s stock after selling 587 shares during the period. Pitcairn Co.’s holdings in SPS Commerce were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SPSC. SG Americas Securities LLC lifted its holdings in SPS Commerce by 79.0% during the second quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker’s stock valued at $1,562,000 after purchasing an additional 3,662 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of SPS Commerce by 11.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,875 shares of the software maker’s stock valued at $6,062,000 after purchasing an additional 3,340 shares during the period. AXA S.A. raised its position in shares of SPS Commerce by 19.4% during the 2nd quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock valued at $5,530,000 after purchasing an additional 4,784 shares during the period. Hsbc Holdings PLC lifted its stake in shares of SPS Commerce by 448.2% during the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock valued at $6,295,000 after buying an additional 27,376 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in SPS Commerce in the 3rd quarter worth $3,178,000. Institutional investors own 98.96% of the company’s stock.

Analysts Set New Price Targets

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

SPS Commerce Stock Performance

NASDAQ SPSC opened at $189.13 on Monday. The stock has a 50 day moving average price of $186.64 and a 200-day moving average price of $191.26. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74. The company has a market capitalization of $7.11 billion, a P/E ratio of 90.49 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 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 business had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. During the same quarter last year, the business earned $0.53 earnings per share. SPS Commerce’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts predict that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $1,160,509.91. Following the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is currently owned by company 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.