Price T Rowe Associates Inc. MD Reduces Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Price T Rowe Associates Inc. MD decreased its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 9.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 408,846 shares of the software maker’s stock after selling 42,160 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.10% of SPS Commerce worth $75,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPSC. Norges Bank acquired a new stake in shares of SPS Commerce in the 4th quarter worth $74,977,000. Norden Group LLC raised its stake in SPS Commerce by 2,034.7% during the first quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after purchasing an additional 201,764 shares during the period. APG Asset Management US Inc. acquired a new position in SPS Commerce in the 4th quarter valued at about $18,779,000. Axiom Investors LLC DE grew its stake in shares of SPS Commerce by 183.0% in the 4th quarter. Axiom Investors LLC DE now owns 130,556 shares of the software maker’s stock valued at $25,307,000 after buying an additional 84,420 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of SPS Commerce by 23.0% during the 4th quarter. Wellington Management Group LLP now owns 341,875 shares of the software maker’s stock worth $66,269,000 after buying an additional 63,962 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SPSC. DA Davidson increased their price objective on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. Craig Hallum increased their price target on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday. Redburn Atlantic started coverage on SPS Commerce in a research report on Tuesday, May 14th. They set a “buy” rating and a $220.00 price objective for the company. William Blair reaffirmed a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. Finally, Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $205.00 to $209.00 in a research report on Monday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $220.25.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $205.80 on Tuesday. SPS Commerce, Inc. has a fifty-two week low of $151.96 and a fifty-two week high of $218.74. The company has a 50 day moving average price of $192.15 and a 200 day moving average price of $186.22. The stock has a market capitalization of $7.64 billion, a P/E ratio of 112.46 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, research analysts forecast that SPS Commerce, Inc. will post 2.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Philip Soran sold 2,390 shares of SPS Commerce stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total value of $491,838.10. Following the completion of the transaction, the director now owns 18,852 shares in the company, valued at approximately $3,879,553.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total transaction of $491,838.10. Following the completion of the transaction, the director now owns 18,852 shares in the company, valued at approximately $3,879,553.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the sale, the director now owns 14,728 shares in the company, valued at $2,855,759.20. The disclosure for this sale can be found here. Insiders sold 12,242 shares of company stock valued at $2,422,377 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.