PNC Financial Services Group Inc. trimmed its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC – Free Report) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,071 shares of the software maker’s stock after selling 125 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPS Commerce were worth $1,179,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in SPSC. Conestoga Capital Advisors LLC lifted its holdings in SPS Commerce by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after acquiring an additional 21,170 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $93,583,000 after purchasing an additional 12,552 shares during the period. Geneva Capital Management LLC lifted its holdings in shares of SPS Commerce by 0.5% during the 3rd quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker’s stock valued at $86,170,000 after purchasing an additional 1,994 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of SPS Commerce by 7.2% in the 2nd 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, Envestnet Asset Management Inc. increased its stake in SPS Commerce by 0.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 220,341 shares of the software maker’s stock worth $41,459,000 after purchasing an additional 2,060 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.
SPS Commerce Price Performance
SPS Commerce stock opened at $192.57 on Thursday. The company’s 50-day moving average is $186.67 and its 200-day moving average is $191.26. The firm has a market capitalization of $7.23 billion, a PE ratio of 92.50 and a beta of 0.84. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74.
Analyst Ratings Changes
A number of brokerages have weighed in on SPSC. Piper Sandler assumed coverage on shares of SPS Commerce in a research note on Monday. They issued a “neutral” rating and a $198.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird increased their target price on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $220.78.
Get Our Latest Stock Report on SPSC
Insider Activity
In related news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.
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.
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