Canandaigua National Bank & Trust Co. Sells 105 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Canandaigua National Bank & Trust Co. reduced its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,436 shares of the software maker’s stock after selling 105 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in SPS Commerce were worth $264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in shares of SPS Commerce by 10.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,493 shares of the software maker’s stock worth $469,000 after buying an additional 232 shares during the last quarter. Victory Capital Management Inc. raised its position in SPS Commerce by 7.4% in the second quarter. Victory Capital Management Inc. now owns 12,309 shares of the software maker’s stock worth $2,316,000 after acquiring an additional 848 shares during the period. Arizona State Retirement System boosted its stake in SPS Commerce by 2.9% in the second quarter. Arizona State Retirement System now owns 10,382 shares of the software maker’s stock valued at $1,953,000 after acquiring an additional 297 shares during the last quarter. Quest Partners LLC grew its position in shares of SPS Commerce by 472.0% during the 2nd quarter. Quest Partners LLC now owns 6,475 shares of the software maker’s stock valued at $1,218,000 after acquiring an additional 5,343 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of SPS Commerce by 9.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,091 shares of the software maker’s stock worth $582,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Up 0.3 %

SPS Commerce stock opened at $183.74 on Wednesday. The firm’s 50 day simple moving average is $186.46 and its 200 day simple moving average is $191.51. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The firm has a market capitalization of $6.90 billion, a PE ratio of 87.91 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts forecast that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SPSC shares. Robert W. Baird increased their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Friday, January 3rd. Stifel Nicolaus lowered their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Piper Sandler assumed coverage on shares of SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.00.

Insider Transactions at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’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 of the company’s stock, valued at $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the transaction, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. The trade was a 19.66 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.