Walleye Capital LLC Reduces Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Walleye Capital LLC trimmed its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 52.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,525 shares of the software maker’s stock after selling 3,911 shares during the quarter. Walleye Capital LLC’s holdings in SPS Commerce were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPSC. Mather Group LLC. lifted its stake in shares of SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of SPS Commerce during the 2nd quarter valued at approximately $30,000. Blue Trust Inc. lifted its stake in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of 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 buying an additional 100 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in shares of SPS Commerce during the 2nd quarter valued at approximately $63,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $192.79 on Friday. The company’s fifty day moving average price is $186.52 and its 200-day moving average price is $191.09. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 92.24 and a beta of 0.86. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, equities research analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current year.

Insider Transactions at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPSC shares. Robert W. Baird upped their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Piper Sandler assumed coverage on shares of SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Finally, Stifel Nicolaus increased their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $220.78.

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.