Allspring Global Investments Holdings LLC Trims Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Allspring Global Investments Holdings LLC lessened its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 25.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,165 shares of the software maker’s stock after selling 43,874 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.34% of SPS Commerce worth $23,430,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in SPS Commerce by 1.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the software maker’s stock valued at $3,349,000 after purchasing an additional 300 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of SPS Commerce by 1.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 119,437 shares of the software maker’s stock valued at $21,975,000 after buying an additional 1,135 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of SPS Commerce by 52.2% in the 4th quarter. Entropy Technologies LP now owns 2,916 shares of the software maker’s stock valued at $537,000 after buying an additional 1,000 shares during the period. State of Alaska Department of Revenue lifted its stake in SPS Commerce by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 21,350 shares of the software maker’s stock worth $3,928,000 after acquiring an additional 181 shares in the last quarter. Finally, E. Ohman J or Asset Management AB boosted its holdings in SPS Commerce by 3.0% during the 4th quarter. E. Ohman J or Asset Management AB now owns 12,810 shares of the software maker’s stock valued at $2,357,000 after acquiring an additional 368 shares during the period. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the transaction, the chief financial officer now owns 147,002 shares of the company’s stock, valued at $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the sale, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,230 shares of company stock valued at $6,379,187 over the last ninety days. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SPSC. Stifel Nicolaus cut their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Citigroup decreased their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Northland Securities reaffirmed a “market perform” rating and set a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Needham & Company LLC reduced their price objective on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $146.21 on Friday. The stock’s 50-day simple moving average is $184.98 and its 200-day simple moving average is $188.45. The firm has a market capitalization of $5.49 billion, a PE ratio of 69.96 and a beta of 0.88. SPS Commerce, Inc. has a fifty-two week low of $145.90 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.

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.