Fifth Third Bancorp Sells 90 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Fifth Third Bancorp cut its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,508 shares of the software maker’s stock after selling 90 shares during the quarter. Fifth Third Bancorp’s holdings in SPS Commerce were worth $277,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of SPS Commerce by 94.5% during the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after acquiring an additional 210,284 shares during the last quarter. FMR LLC boosted its position in SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after acquiring an additional 104,769 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after acquiring an additional 104,210 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of SPS Commerce in the 3rd quarter worth about $17,128,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of SPS Commerce by 58.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 186,344 shares of the software maker’s stock valued at $34,285,000 after purchasing an additional 69,029 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $184.68 on Friday. The firm has a market cap of $6.94 billion, a P/E ratio of 88.36 and a beta of 0.88. The business’s 50 day moving average price is $189.93 and its 200-day moving average price is $191.26. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74.

Analysts Set New Price Targets

SPSC has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Stifel Nicolaus cut their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Citigroup decreased their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Wednesday, January 15th. Finally, Piper Sandler began coverage on SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $219.22.

Insider Transactions at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares in the company, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was 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 directly owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. 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.