SPS Commerce, Inc. (NASDAQ:SPSC) Holdings Decreased by Trust Point Inc.

Trust Point Inc. reduced its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 28.7% in the 4th quarter, Holdings Channel reports. The fund owned 14,831 shares of the software maker’s stock after selling 5,956 shares during the period. Trust Point Inc.’s holdings in SPS Commerce were worth $2,729,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of SPS Commerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after acquiring an additional 16,357 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of SPS Commerce by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after acquiring an additional 21,170 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 position in shares of 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 period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SPS Commerce by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after buying an additional 8,186 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction that occurred on 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 owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,940 shares of company stock worth $4,696,861. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SPSC shares. Stifel Nicolaus dropped their price objective on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Citigroup reduced their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Robert W. Baird raised their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Wednesday, January 15th. Finally, Piper Sandler began coverage on SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $219.22.

SPS Commerce Stock Performance

NASDAQ SPSC opened at $180.03 on Tuesday. The firm’s 50 day moving average price is $189.66 and its 200-day moving average price is $190.84. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The company has a market cap of $6.76 billion, a PE ratio of 86.14 and a beta of 0.88.

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.