SPS Commerce, Inc. (NASDAQ:SPSC) Stock Holdings Trimmed by Hardy Reed LLC

Hardy Reed LLC decreased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,687 shares of the software maker’s stock after selling 89 shares during the quarter. Hardy Reed LLC’s holdings in SPS Commerce were worth $522,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mather Group LLC. increased its stake in SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after buying an additional 128 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of SPS Commerce during the second quarter valued at approximately $30,000. Blue Trust Inc. raised 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 worth $32,000 after purchasing an additional 100 shares in the last quarter. Advisors Asset Management Inc. lifted its position in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the period. Finally, DT Investment Partners LLC acquired a new stake in SPS Commerce in the second quarter worth approximately $63,000. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Trading Down 0.0 %

NASDAQ:SPSC opened at $193.33 on Wednesday. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 92.50 and a beta of 0.84. The business’s fifty day moving average price is $186.64 and its 200 day moving average price is $191.25.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SPSC shares. Robert W. Baird boosted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Stifel Nicolaus increased their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Piper Sandler started coverage on SPS Commerce in a report on Monday. They issued a “neutral” rating and a $198.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.78.

Insiders Place Their Bets

In related news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.