Kayne Anderson Rudnick Investment Management LLC Sells 60,781 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 808,267 shares of the software maker’s stock after selling 60,781 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in SPS Commerce were worth $152,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SPSC. Shaker Investments LLC OH boosted its holdings in SPS Commerce by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock valued at $564,000 after purchasing an additional 50 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of SPS Commerce by 10.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker’s stock valued at $114,000 after buying an additional 56 shares during the period. Arkadios Wealth Advisors increased its stake in SPS Commerce by 1.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker’s stock worth $707,000 after acquiring an additional 67 shares during the period. XTX Topco Ltd increased its stake in SPS Commerce by 4.9% during the 2nd quarter. XTX Topco Ltd now owns 1,744 shares of the software maker’s stock worth $328,000 after acquiring an additional 82 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in SPS Commerce by 7.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the software maker’s stock valued at $226,000 after acquiring an additional 83 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird raised their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus raised their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, July 26th. DA Davidson upped their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Craig Hallum lifted their price objective on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

SPS Commerce Price Performance

SPSC stock opened at $195.33 on Friday. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 106.74 and a beta of 0.82. The company has a 50 day simple moving average of $197.70 and a 200 day simple moving average of $188.65. SPS Commerce, Inc. has a 1 year low of $151.96 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The company had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. During the same period in the prior year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that SPS Commerce, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other news, Director Philip Soran sold 2,390 shares of SPS Commerce stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the sale, the director now directly owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the sale, the director now directly owns 16,212 shares in the company, valued at $3,264,286.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total value of $491,838.10. Following the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,675 shares of company stock worth $1,551,735. 1.00% of the stock is currently owned by insiders.

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.