SPS Commerce (NASDAQ:SPSC) EVP Sells $913,481.64 in Stock

SPS Commerce, Inc. (NASDAQ:SPSC) EVP Jamie Thingelstad sold 11,196 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $81.59, for a total transaction of $913,481.64. Following the sale, the executive vice president owned 95,777 shares of the company’s stock, valued at approximately $7,814,445.43. This represents a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $82.25 on Friday. The company has a 50-day simple moving average of $83.45 and a two-hundred day simple moving average of $68.04. The stock has a market capitalization of $2.91 billion, a PE ratio of 23.40 and a beta of 0.66. SPS Commerce, Inc. has a 52-week low of $49.04 and a 52-week high of $96.54.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 29th. The software maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. The firm had revenue of $197.65 million for the quarter, compared to analysts’ expectations of $197.51 million. SPS Commerce had a net margin of 10.65% and a return on equity of 13.72%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 earnings per share. As a group, equities research analysts forecast that SPS Commerce, Inc. will post 3.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPSC. Zacks Research raised SPS Commerce from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. DA Davidson lifted their target price on SPS Commerce from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Stifel Nicolaus lifted their target price on SPS Commerce from $70.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 14th. Morgan Stanley restated an “underweight” rating and issued a $74.00 price target on shares of SPS Commerce in a research note on Monday, October 26th. Finally, Citigroup reaffirmed a “buy” rating and set a $99.00 price target (up from $82.00) on shares of SPS Commerce in a report on Tuesday, October 20th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SPS Commerce presently has a consensus rating of “Hold” and an average target price of $79.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SPSC. State Street Corp lifted its position in SPS Commerce by 2,835.9% during the third quarter. State Street Corp now owns 45,380,765 shares of the software maker’s stock valued at $3,741,190,000 after purchasing an additional 43,835,069 shares during the period. BlackRock Inc. bought a new stake in SPS Commerce in the 2nd quarter worth approximately $339,259,000. First Trust Advisors LP grew its position in SPS Commerce by 35,941.7% in the 3rd quarter. First Trust Advisors LP now owns 2,957,940 shares of the software maker’s stock worth $243,853,000 after purchasing an additional 2,949,733 shares during the period. Bank of America Corp DE raised its stake in SPS Commerce by 3.3% during the 1st quarter. Bank of America Corp DE now owns 998,622 shares of the software maker’s stock valued at $55,593,000 after buying an additional 31,434 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in SPS Commerce during the 2nd quarter valued at $56,260,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Company Profile

SPS Commerce provides cloud-based supply chain management software and services, with a focus on helping retailers, suppliers, distributors and logistics providers exchange business information and coordinate transactions. Its platform connects trading partners and supports electronic data interchange (EDI), order processing and fulfillment workflows. The company also offers tools for supply chain analytics and product information management, along with implementation and ongoing support services.