SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 21.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,237 shares of the software maker’s stock after selling 898 shares during the period. First Citizens Bank & Trust Co.’s holdings in SPS Commerce were worth $252,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp purchased a new stake in SPS Commerce during the 3rd quarter worth $152,000. Envestnet Asset Management Inc. grew its position in shares of SPS Commerce by 1.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 65,818 shares of the software maker’s stock valued at $5,125,000 after buying an additional 983 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of SPS Commerce by 38.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 75,734 shares of the software maker’s stock valued at $5,897,000 after buying an additional 20,977 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of SPS Commerce by 24.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the software maker’s stock valued at $714,000 after buying an additional 1,842 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of SPS Commerce by 957.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,063,110 shares of the software maker’s stock valued at $79,861,000 after buying an additional 962,574 shares during the last quarter. 98.67% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Sven Wehrwein sold 2,620 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $75.30, for a total transaction of $197,286.00. Following the sale, the director now owns 18,910 shares in the company, valued at $1,423,923. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip Soran sold 7,120 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $72.76, for a total transaction of $518,051.20. Following the sale, the director now owns 23,030 shares in the company, valued at approximately $1,675,662.80. The disclosure for this sale can be found here. Insiders have sold 139,058 shares of company stock worth $10,327,715 in the last 90 days. 7.20% of the stock is owned by company insiders.

NASDAQ SPSC opened at $87.29 on Friday. The company’s 50 day simple moving average is $78.57 and its 200 day simple moving average is $68.98. SPS Commerce, Inc. has a 12 month low of $31.28 and a 12 month high of $88.25. The company has a market capitalization of $3.07 billion, a P/E ratio of 81.58, a PEG ratio of 4.79 and a beta of 0.83.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, July 30th. The software maker reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. SPS Commerce had a net margin of 13.23% and a return on equity of 11.54%. The business had revenue of $75.57 million for the quarter, compared to the consensus estimate of $74.39 million. As a group, analysts forecast that SPS Commerce, Inc. will post 1.03 EPS for the current year.

A number of research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating on shares of SPS Commerce in a research note on Friday, July 31st. Zacks Investment Research lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. BidaskClub raised shares of SPS Commerce from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 9th. Northland Securities upped their price target on shares of SPS Commerce from $68.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Oppenheimer initiated coverage on shares of SPS Commerce in a research note on Friday, July 31st. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $71.38.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.

Further Reading: How do analysts define an oversold condition?

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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