Wellington Management Group LLP Lowers Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Wellington Management Group LLP lowered its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,325 shares of the software maker’s stock after selling 29,018 shares during the quarter. Wellington Management Group LLP’s holdings in SPS Commerce were worth $42,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in SPS Commerce in the 4th quarter worth approximately $40,000. Blue Trust Inc. lifted its holdings in shares of SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after buying an additional 84 shares in the last quarter. R Squared Ltd bought a new position in shares of SPS Commerce during the fourth quarter worth $57,000. Arcadia Investment Management Corp MI purchased a new position in SPS Commerce during the fourth quarter valued at $57,000. Finally, Trust Co. of Vermont bought a new stake in SPS Commerce in the 4th quarter valued at $69,000. Institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SPSC. Citigroup dropped their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of SPS Commerce in a research note on Wednesday, March 26th. Robert W. Baird reduced their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. 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 report on Tuesday, February 11th. Finally, Northland Securities reissued a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

Insider Buying and Selling

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the transaction, the chief financial officer now directly owns 156,292 shares in the company, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the sale, the chief executive officer now owns 5,270,106 shares of the company’s stock, valued at $780,608,100.72. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,864 shares of company stock valued at $6,613,078. Insiders own 1.00% of the company’s stock.

SPS Commerce Stock Down 1.3 %

SPSC stock opened at $127.90 on Friday. SPS Commerce, Inc. has a twelve month low of $121.52 and a twelve month high of $218.61. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 62.70 and a beta of 0.92. The firm’s fifty day simple moving average is $145.99 and its two-hundred day simple moving average is $173.40.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate 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 research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

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.