Focus Financial Network Inc. Sells 10,888 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Focus Financial Network Inc. lessened its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 51.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,355 shares of the software maker’s stock after selling 10,888 shares during the period. Focus Financial Network Inc.’s holdings in SPS Commerce were worth $2,143,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SPSC. Raymond James & Associates grew its holdings in SPS Commerce by 1.6% in the second quarter. Raymond James & Associates now owns 75,540 shares of the software maker’s stock worth $14,214,000 after purchasing an additional 1,154 shares during the period. Assenagon Asset Management S.A. grew its holdings in SPS Commerce by 662.8% in the second quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock worth $17,065,000 after purchasing an additional 78,805 shares during the period. SG Americas Securities LLC grew its holdings in SPS Commerce by 79.0% in the second quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker’s stock worth $1,562,000 after purchasing an additional 3,662 shares during the period. Opal Wealth Advisors LLC acquired a new stake in SPS Commerce in the second quarter worth $30,000. Finally, CHICAGO TRUST Co NA acquired a new stake in SPS Commerce in the second quarter worth $254,000. Institutional investors own 98.96% of the company’s stock.

Insiders Place Their Bets

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the sale, the director now owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the sale, the director now owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Philip Soran sold 3,285 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $200.06, for a total transaction of $657,197.10. Following the completion of the sale, the director now directly owns 18,852 shares in the company, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,675 shares of company stock valued at $1,551,735. Company insiders own 1.00% of the company’s stock.

SPS Commerce Stock Up 0.8 %

SPS Commerce stock traded up $1.58 during midday trading on Wednesday, hitting $195.88. 13,492 shares of the stock were exchanged, compared to its average volume of 178,532. SPS Commerce, Inc. has a 52-week low of $151.96 and a 52-week high of $218.74. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 106.17 and a beta of 0.85. The business’s 50-day moving average price is $195.17 and its 200-day moving average price is $187.93.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, sell-side analysts predict that SPS Commerce, Inc. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SPSC shares. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $205.00 to $209.00 in a report on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, July 26th. DA Davidson lifted their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a report on Friday, August 2nd. Finally, Redburn Atlantic started coverage on shares of SPS Commerce in a report on Tuesday, May 14th. They set a “buy” rating and a $220.00 price objective for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.25.

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.