Prudential Financial Inc. Has $10.64 Million Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Prudential Financial Inc. reduced its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 11.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 57,802 shares of the software maker’s stock after selling 7,805 shares during the period. Prudential Financial Inc.’s holdings in SPS Commerce were worth $10,635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPSC. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SPS Commerce in the 3rd quarter valued at approximately $210,000. Advisors Asset Management Inc. grew its position in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the period. Citigroup Inc. raised its stake in SPS Commerce by 56.3% during the third quarter. Citigroup Inc. now owns 54,451 shares of the software maker’s stock worth $10,573,000 after acquiring an additional 19,618 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of SPS Commerce by 67.2% during the third quarter. Cerity Partners LLC now owns 3,786 shares of the software maker’s stock valued at $735,000 after acquiring an additional 1,522 shares during the period. Finally, FMR LLC boosted its stake in shares of 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 in the last quarter. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Down 2.0 %

Shares of SPSC stock opened at $133.50 on Friday. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 65.44 and a beta of 0.92. SPS Commerce, Inc. has a 12 month low of $122.58 and a 12 month high of $218.61. The stock has a 50-day moving average price of $152.14 and a 200 day moving average price of $175.51.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Sell-side analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPSC. Citigroup cut their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Robert W. Baird reduced their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus dropped their price target on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of SPS Commerce in a research note on Wednesday. Finally, Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $207.11.

Insider Buying and Selling at SPS Commerce

In related news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares in the company, valued at $28,864,006.56. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,864 shares of company stock worth $6,613,078. Insiders own 1.00% of the company’s stock.

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.