SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,845 shares of the software maker’s stock after selling 14,381 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of SPS Commerce worth $8,887,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in 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 buying an additional 33,874 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of SPS Commerce by 5.3% during the 4th quarter. Raymond James & Associates now owns 109,125 shares of the software maker’s stock valued at $21,153,000 after acquiring an additional 5,456 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in SPS Commerce by 102.9% during 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 purchasing an additional 15,110 shares during the period. Northern Trust Corp increased 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 valued at $83,780,000 after purchasing an additional 4,764 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in SPS Commerce by 28.4% in the third quarter. Envestnet Asset Management Inc. now owns 195,276 shares of the software maker’s stock valued at $33,316,000 after purchasing an additional 43,191 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the business’s 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 completion of the sale, the director now owns 15,747 shares in the company, valued at $3,102,631.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the transaction, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Archie C. Black sold 8,723 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $181.56, for a total transaction of $1,583,747.88. Following the sale, the director now owns 71,852 shares in the company, valued at approximately $13,045,449.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,019 shares of company stock valued at $5,186,345. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SPSC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research report on Friday, April 26th. Robert W. Baird increased their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. William Blair reissued a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. StockNews.com downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Citigroup began coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They set a “buy” rating and a $216.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $196.57.

SPS Commerce Price Performance

Shares of SPSC stock opened at $178.97 on Thursday. The firm has a market cap of $6.63 billion, a P/E ratio of 97.80 and a beta of 0.79. The firm has a fifty day moving average of $178.44 and a two-hundred day moving average of $179.34. SPS Commerce, Inc. has a 1-year low of $145.17 and a 1-year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. The firm had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. On average, sell-side analysts expect that SPS Commerce, Inc. will post 2.25 EPS for the current year.

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.