Townsquare Capital LLC Sells 928 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Townsquare Capital LLC decreased its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 57,348 shares of the software maker’s stock after selling 928 shares during the period. Townsquare Capital LLC owned about 0.15% of SPS Commerce worth $11,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SPSC. Mather Group LLC. grew its holdings in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of SPS Commerce in the second quarter worth approximately $30,000. Blue Trust Inc. grew its holdings in shares of SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares during the period. Finally, DT Investment Partners LLC purchased a new stake in SPS Commerce in the second quarter worth $63,000. Institutional investors own 98.96% of the company’s stock.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce 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 completion of the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

SPS Commerce Price Performance

SPSC opened at $192.57 on Thursday. The stock has a 50-day moving average price of $186.67 and a 200-day moving average price of $191.26. The firm has a market cap of $7.23 billion, a PE ratio of 92.14 and a beta of 0.84. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. SPS Commerce’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts anticipate that SPS Commerce, Inc. will post 2.39 EPS for the current year.

SPS Commerce Company 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.