SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 41.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 685 shares of the software maker’s stock after selling 495 shares during the quarter. GAMMA Investing LLC’s holdings in SPS Commerce were worth $126,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SPSC. Barclays PLC boosted its position in shares of SPS Commerce by 209.6% during the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after acquiring an additional 44,946 shares during the last quarter. AXA S.A. boosted its holdings in SPS Commerce by 19.4% in the 2nd quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock valued at $5,530,000 after purchasing an additional 4,784 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of SPS Commerce in the 3rd quarter valued at approximately $3,178,000. Synovus Financial Corp acquired a new stake in shares of SPS Commerce during the 3rd quarter worth approximately $1,809,000. Finally, Hsbc Holdings PLC raised its position in shares of SPS Commerce by 448.2% during the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock valued at $6,295,000 after buying an additional 27,376 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Price Performance

NASDAQ SPSC opened at $183.31 on Friday. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The company has a market capitalization of $6.89 billion, a P/E ratio of 87.71 and a beta of 0.88. The business has a 50 day moving average price of $186.75 and a 200 day moving average price of $191.45.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. During the same quarter last year, the business posted $0.53 earnings per share. SPS Commerce’s revenue was up 20.7% compared to the same quarter last year. On average, research analysts expect that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SPSC. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Friday, January 3rd. Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price on the stock. Stifel Nicolaus dropped their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Robert W. Baird increased their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $218.00.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction 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 transaction, 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 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate 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.