SPS Commerce, Inc. (SPSC) Shares Sold by Flinton Capital Management LLC
Flinton Capital Management LLC lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 54.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,822 shares of the software maker’s stock after selling 3,434 shares during the quarter. Flinton Capital Management LLC’s holdings in SPS Commerce were worth $207,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SPSC. Legion Partners Asset Management LLC acquired a new position in shares of SPS Commerce during the first quarter valued at approximately $20,911,000. BlackRock Inc. raised its holdings in shares of SPS Commerce by 10.4% during the second quarter. BlackRock Inc. now owns 2,385,431 shares of the software maker’s stock valued at $175,281,000 after acquiring an additional 224,322 shares during the last quarter. FMR LLC raised its holdings in shares of SPS Commerce by 19.8% during the second quarter. FMR LLC now owns 1,218,502 shares of the software maker’s stock valued at $89,536,000 after acquiring an additional 201,002 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of SPS Commerce during the first quarter valued at approximately $12,795,000. Finally, Stifel Financial Corp acquired a new position in shares of SPS Commerce during the first quarter valued at approximately $8,860,000. 95.11% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Kimberly K. Nelson sold 18,215 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $85.21, for a total value of $1,552,100.15. Following the completion of the sale, the chief financial officer now owns 70,957 shares of the company’s stock, valued at $6,046,245.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Archie C. Black sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $85.33, for a total value of $853,300.00. Following the completion of the sale, the chief executive officer now directly owns 89,352 shares of the company’s stock, valued at approximately $7,624,406.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,495 shares of company stock valued at $3,600,600. Insiders own 3.60% of the company’s stock.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, July 26th. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.33 by $0.16. SPS Commerce had a return on equity of 4.25% and a net margin of 0.61%. The firm had revenue of $61.09 million during the quarter, compared to analysts’ expectations of $59.78 million. During the same quarter last year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. equities research analysts expect that SPS Commerce, Inc. will post 1.15 EPS for the current fiscal year.
A number of brokerages have commented on SPSC. BidaskClub raised SPS Commerce from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $101.00 target price for the company in a report on Friday, August 3rd. Stifel Nicolaus increased their target price on SPS Commerce from $82.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 27th. Needham & Company LLC reissued a “buy” rating and set a $82.00 target price on shares of SPS Commerce in a report on Friday, July 27th. Finally, Canaccord Genuity increased their target price on SPS Commerce from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 27th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $86.29.
SPS Commerce Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
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