Eagle Asset Management Inc. Sells 23,791 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Eagle Asset Management Inc. cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 26.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,542 shares of the software maker’s stock after selling 23,791 shares during the quarter. Eagle Asset Management Inc.’s holdings in SPS Commerce were worth $12,511,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in SPS Commerce in the 2nd quarter valued at about $30,000. Blue Trust Inc. raised its holdings in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Advisors Asset Management Inc. lifted its position in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in shares of SPS Commerce during the second quarter worth approximately $63,000. Institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Needham & Company LLC reissued 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 stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird upped their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Finally, Northland Capmk lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.63.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $189.13 on Friday. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The stock’s fifty day moving average price is $186.64 and its two-hundred day moving average price is $191.24. The company has a market cap of $7.11 billion, a PE ratio of 90.49 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. On average, equities analysts predict that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

About SPS Commerce

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.