US Bancorp DE Sells 4,420 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

US Bancorp DE trimmed its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,761 shares of the software maker’s stock after selling 4,420 shares during the period. US Bancorp DE owned about 0.11% of SPS Commerce worth $7,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPSC. Advisors Asset Management Inc. boosted its holdings in SPS Commerce by 129.9% during the 3rd 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. Blue Trust Inc. lifted its position in SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after purchasing an additional 84 shares during the last quarter. R Squared Ltd purchased a new stake in shares of SPS Commerce during the fourth quarter valued at approximately $57,000. Arcadia Investment Management Corp MI bought a new position in shares of SPS Commerce in the fourth quarter worth approximately $57,000. Finally, Avior Wealth Management LLC grew its holdings in shares of SPS Commerce by 1,358.3% in the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after purchasing an additional 326 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPSC. Northland Securities reiterated a “market perform” rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Piper Sandler lowered their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus cut their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Needham & Company LLC lowered their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Robert W. Baird dropped 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Transactions at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the transaction, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. This trade represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 2,591 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the sale, the executive vice president now owns 1,367,584 shares in the company, valued at $202,429,783.68. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,695 shares of company stock valued at $7,781,086 in the last three months. 1.00% of the stock is currently owned by company insiders.

SPS Commerce Stock Performance

SPSC stock opened at $132.16 on Wednesday. SPS Commerce, Inc. has a fifty-two week low of $130.43 and a fifty-two week high of $218.61. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 64.78 and a beta of 0.88. The business’s 50 day moving average price is $172.96 and its two-hundred day moving average price is $183.83.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Sell-side analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

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.