MetLife Investment Management LLC Reduces Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

MetLife Investment Management LLC lessened its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,100 shares of the software maker’s stock after selling 355 shares during the period. MetLife Investment Management LLC’s holdings in SPS Commerce were worth $4,097,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SPSC. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of SPS Commerce by 225.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 23,100 shares of the software maker’s stock worth $4,485,000 after acquiring an additional 16,000 shares during the last quarter. Thematics Asset Management increased its position in SPS Commerce by 19.2% during the third quarter. Thematics Asset Management now owns 113,914 shares of the software maker’s stock worth $22,119,000 after purchasing an additional 18,385 shares during the last quarter. BNP Paribas Financial Markets raised its stake in SPS Commerce by 71.1% during the third quarter. BNP Paribas Financial Markets now owns 57,154 shares of the software maker’s stock worth $11,098,000 after purchasing an additional 23,751 shares during the period. Quantbot Technologies LP raised its stake in SPS Commerce by 101.0% during the third quarter. Quantbot Technologies LP now owns 20,674 shares of the software maker’s stock worth $4,014,000 after purchasing an additional 10,390 shares during the period. Finally, FMR LLC boosted its holdings in SPS Commerce by 18.3% in the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $192.67 on Tuesday. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 92.19 and a beta of 0.84. The business has a 50-day moving average of $186.50 and a 200 day moving average of $191.18. SPS Commerce, Inc. has a 12 month low of $160.58 and a 12 month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. During the same quarter last year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts anticipate that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

SPSC has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Stifel Nicolaus lifted their target price 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, November 25th. They set a “neutral” rating and a $198.00 price target for the company. Finally, Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.78.

Insider Transactions at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.