SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Covestor Ltd

Covestor Ltd decreased its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 19.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 678 shares of the software maker’s stock after selling 160 shares during the period. Covestor Ltd’s holdings in SPS Commerce were worth $132,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SPSC. Vanguard Group Inc. grew its holdings in SPS Commerce by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock worth $803,798,000 after buying an additional 58,525 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of SPS Commerce by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after purchasing an additional 21,170 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SPS Commerce by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock valued at $93,583,000 after purchasing an additional 12,552 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of SPS Commerce by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 340,419 shares of the software maker’s stock valued at $64,053,000 after purchasing an additional 22,928 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in shares of SPS Commerce by 21.9% during the first quarter. Lord Abbett & CO. LLC now owns 226,317 shares of the software maker’s stock valued at $41,846,000 after purchasing an additional 40,612 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of SPSC opened at $187.17 on Tuesday. The company has a 50-day moving average of $187.77 and a two-hundred day moving average of $191.32. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 89.56 and a beta of 0.84. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data 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. The firm had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Analysts anticipate that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at $9,238,941.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPSC. Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Stifel Nicolaus upped their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. DA Davidson increased their price target on SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Finally, Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $223.63.

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.