California Public Employees Retirement System Lowers Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

California Public Employees Retirement System trimmed its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 199,344 shares of the software maker’s stock after selling 2,819 shares during the period. California Public Employees Retirement System owned approximately 0.54% of SPS Commerce worth $38,641,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of SPS Commerce by 0.8% during the third quarter. Vanguard Group Inc. now owns 4,250,549 shares of the software maker’s stock valued at $725,186,000 after purchasing an additional 33,874 shares during the last quarter. Raymond James & Associates raised its holdings in SPS Commerce by 5.3% in the 4th quarter. Raymond James & Associates now owns 109,125 shares of the software maker’s stock worth $21,153,000 after acquiring an additional 5,456 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in SPS Commerce by 102.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 29,799 shares of the software maker’s stock worth $5,776,000 after acquiring an additional 15,110 shares during the last quarter. Northern Trust Corp raised its holdings in SPS Commerce by 1.0% in the 3rd quarter. Northern Trust Corp now owns 491,062 shares of the software maker’s stock worth $83,780,000 after acquiring an additional 4,764 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in SPS Commerce by 28.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 195,276 shares of the software maker’s stock worth $33,316,000 after acquiring an additional 43,191 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPSC has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $205.00 price objective on shares of SPS Commerce in a report on Friday. Citigroup initiated coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 target price for the company. Finally, StockNews.com downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and an average price target of $196.57.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kimberly K. Nelson sold 12,907 shares of SPS Commerce stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.41, for a total transaction of $2,315,644.87. Following the transaction, the chief financial officer now owns 157,251 shares in the company, valued at approximately $28,212,401.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,688 shares of company stock worth $12,122,275. 1.00% of the stock is owned by corporate insiders.

SPS Commerce Price Performance

Shares of SPSC stock opened at $178.96 on Friday. SPS Commerce, Inc. has a 1 year low of $140.00 and a 1 year high of $218.74. The firm has a fifty day moving average price of $179.25 and a 200-day moving average price of $179.04. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. The firm had revenue of $144.97 million during the quarter, compared to the consensus estimate of $143.05 million. Equities research analysts expect that SPS Commerce, Inc. will post 2.13 EPS for the current year.

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.