Stifel Financial Corp Sells 698 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Stifel Financial Corp reduced its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,469 shares of the software maker’s stock after selling 698 shares during the quarter. Stifel Financial Corp’s holdings in SPS Commerce were worth $5,916,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Advisors Asset Management Inc. grew its position in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the period. DT Investment Partners LLC acquired a new position in SPS Commerce during the second quarter worth $63,000. Signaturefd LLC lifted its holdings in shares of SPS Commerce by 26.0% during the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after acquiring an additional 69 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of SPS Commerce by 1,358.3% in the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the 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 sale, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

SPS Commerce Stock Down 2.4 %

SPS Commerce stock opened at $192.38 on Friday. The business’s 50-day simple moving average is $187.10 and its 200 day simple moving average is $191.19. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 92.05 and a beta of 0.86. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company 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 EPS. SPS Commerce’s revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target for the company. Robert W. Baird lifted their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Stifel Nicolaus lifted their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

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.