State of New Jersey Common Pension Fund D Sells 513 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

State of New Jersey Common Pension Fund D lowered its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.8% in the third quarter, HoldingsChannel.com reports. The fund owned 12,868 shares of the software maker’s stock after selling 513 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SPS Commerce were worth $2,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. raised its position in SPS Commerce by 800.0% in the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of SPS Commerce in the second quarter valued at about $30,000. Blue Trust Inc. lifted its position in SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. DT Investment Partners LLC bought a new stake in SPS Commerce during the 2nd quarter worth about $63,000. Finally, Signaturefd LLC increased its position in SPS Commerce by 26.0% in the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after acquiring an additional 69 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Trading Down 0.1 %

SPS Commerce stock opened at $186.67 on Thursday. The firm has a market capitalization of $7.01 billion, a P/E ratio of 89.32 and a beta of 0.84. The business has a 50-day moving average of $187.62 and a 200-day moving average of $191.35. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts anticipate that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the firm’s 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 sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SPSC shares. DA Davidson upped their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Stifel Nicolaus boosted their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird upped 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. Finally, Craig Hallum lifted 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. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.63.

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.