SPS Commerce, Inc. (NASDAQ:SPSC) Stock Position Lessened by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 28.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,868 shares of the software maker’s stock after selling 757 shares during the period. Janney Montgomery Scott LLC’s holdings in SPS Commerce were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in shares of SPS Commerce by 94.5% in the 3rd 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 period. FMR LLC raised its holdings in SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after purchasing an additional 104,769 shares in the last quarter. JPMorgan Chase & Co. lifted its position in SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares during the period. Loomis Sayles & Co. L P bought a new position in SPS Commerce during the 3rd quarter valued at $17,128,000. Finally, Assenagon Asset Management S.A. increased its position in shares of SPS Commerce by 58.8% during 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. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC opened at $177.17 on Tuesday. The firm has a 50 day simple moving average of $188.36 and a 200 day simple moving average of $189.93. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.61. The company has a market cap of $6.66 billion, a PE ratio of 84.77 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. On average, equities analysts predict that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the transaction, the executive vice president now owns 23,833 shares in the company, valued at approximately $4,773,988.23. This represents a 19.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at $28,864,006.56. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,230 shares of company stock valued at $6,379,187. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup cut their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Piper Sandler assumed coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target for the company. Robert W. Baird lifted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock 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 for the company in a research note on Friday, January 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and an average target price of $219.22.

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.