Prudential Financial Inc. Has $10.64 Million Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Prudential Financial Inc. decreased its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 11.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 57,802 shares of the software maker’s stock after selling 7,805 shares during the period. Prudential Financial Inc. owned about 0.15% of SPS Commerce worth $10,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after buying an additional 210,284 shares during the period. Raymond James Financial Inc. acquired a new position in shares of SPS Commerce in the 4th quarter valued at about $27,441,000. Geneva Capital Management LLC lifted its position in shares of SPS Commerce by 31.1% in the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock worth $107,045,000 after purchasing an additional 138,014 shares in the last quarter. FMR LLC grew its position in SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares in the last quarter. Finally, 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 valued at $49,404,000 after buying an additional 104,210 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Chadwick Collins sold 2,840 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the transaction, the chief executive officer now owns 5,270,106 shares of the company’s stock, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares in the company, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,864 shares of company stock valued at $6,613,078. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPSC. Northland Securities reaffirmed a “market perform” rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Piper Sandler cut their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Robert W. Baird lowered their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a research report on Wednesday. Finally, Stifel Nicolaus decreased their target price on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Price Performance

Shares of SPSC opened at $133.50 on Friday. The company has a market capitalization of $5.04 billion, a PE ratio of 65.44 and a beta of 0.92. SPS Commerce, Inc. has a one year low of $122.58 and a one year high of $218.61. The company’s fifty day moving average price is $152.14 and its 200 day moving average price is $175.51.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 EPS 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%. Analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

About SPS Commerce

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.