New York State Teachers Retirement System Lowers Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

New York State Teachers Retirement System cut its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.7% in the third quarter, HoldingsChannel.com reports. The firm owned 15,835 shares of the software maker’s stock after selling 600 shares during the period. New York State Teachers Retirement System’s holdings in SPS Commerce were worth $3,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its holdings in shares of SPS Commerce by 2,099.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after purchasing an additional 92,381 shares during the period. Assenagon Asset Management S.A. increased its stake in SPS Commerce by 662.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock worth $17,065,000 after buying an additional 78,805 shares in the last quarter. F M Investments LLC purchased a new position in shares of SPS Commerce in the second quarter worth about $13,869,000. Hantz Financial Services Inc. purchased a new stake in shares of SPS Commerce in the second quarter valued at approximately $12,876,000. Finally, Vanguard Group Inc. boosted its position in shares of SPS Commerce by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock valued at $803,798,000 after acquiring an additional 58,525 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on SPSC. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and upped their target price for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Craig Hallum boosted their price objective on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus upped their price objective on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research report on Friday, October 25th. Finally, DA Davidson increased their price objective on SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a report on Friday, July 26th. Five 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, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $223.63.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $185.27 on Friday. The stock has a 50-day simple moving average of $188.32 and a 200 day simple moving average of $190.80. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 88.65 and a beta of 0.84.

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

SPS Commerce 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.