Insider Selling: SPS Commerce, Inc. (NASDAQ:SPSC) CFO Sells 9,290 Shares of Stock

SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the transaction, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SPS Commerce Stock Down 1.0 %

Shares of SPSC opened at $178.31 on Friday. The business has a 50-day simple moving average of $188.96 and a two-hundred day simple moving average of $190.56. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The stock has a market cap of $6.70 billion, a PE ratio of 85.32 and a beta of 0.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in SPS Commerce in the 2nd quarter valued at approximately $517,000. GAMMA Investing LLC grew its stake in shares of SPS Commerce by 50.3% in the third quarter. GAMMA Investing LLC now owns 1,180 shares of the software maker’s stock worth $229,000 after purchasing an additional 395 shares during the last quarter. Inspire Investing LLC increased its holdings in SPS Commerce by 13.8% in the third quarter. Inspire Investing LLC now owns 2,131 shares of the software maker’s stock valued at $414,000 after purchasing an additional 258 shares during the period. Exchange Traded Concepts LLC raised its position in SPS Commerce by 63.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 659 shares of the software maker’s stock worth $128,000 after purchasing an additional 255 shares during the last quarter. Finally, Creative Planning lifted its holdings in SPS Commerce by 13.6% during the 3rd quarter. Creative Planning now owns 10,069 shares of the software maker’s stock worth $1,955,000 after buying an additional 1,204 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SPSC shares. Stifel Nicolaus reduced their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Citigroup reduced their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Piper Sandler assumed coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research note on Wednesday, January 15th. Finally, Robert W. Baird lifted their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and an average target price of $219.22.

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.