Principal Financial Group Inc. Buys 9,034 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Principal Financial Group Inc. grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,403 shares of the software maker’s stock after acquiring an additional 9,034 shares during the quarter. Principal Financial Group Inc. owned about 0.51% of SPS Commerce worth $35,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of SPS Commerce by 209.6% during the third 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in SPS Commerce in the 3rd quarter worth about $3,178,000. Synovus Financial Corp bought a new stake in SPS Commerce in the 3rd quarter worth about $1,809,000. JPMorgan Chase & Co. increased its holdings in SPS Commerce by 69.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after buying an additional 104,210 shares in the last quarter. Finally, State Street Corp increased its holdings in SPS Commerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after buying an additional 16,357 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC opened at $141.22 on Friday. SPS Commerce, Inc. has a 52-week low of $139.59 and a 52-week high of $218.61. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 69.23 and a beta of 0.88. The stock’s 50-day simple moving average is $179.85 and its two-hundred day simple moving average is $186.50.

SPS Commerce (NASDAQ:SPSC) last posted 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 net margin of 12.08% and a return on equity of 12.27%. As a group, equities analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction dated 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 directly owns 147,002 shares of the company’s stock, valued at $26,620,592.18. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction dated 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 transaction, the executive vice president now directly owns 22,570 shares in the company, valued at approximately $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 have sold a total of 43,695 shares of company stock valued at $7,781,086 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

SPSC has been the subject of several research analyst reports. Citigroup reduced their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Robert W. Baird reduced their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Northland Securities reiterated a “market perform” rating and issued a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Piper Sandler reduced their price objective on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Needham & Company LLC reduced their price objective on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

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.