AlphaQuest LLC Lowers Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

AlphaQuest LLC trimmed its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 73.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,167 shares of the software maker’s stock after selling 8,861 shares during the quarter. AlphaQuest LLC’s holdings in SPS Commerce were worth $583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its holdings in SPS Commerce by 209.6% during the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after acquiring an additional 44,946 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in SPS Commerce during the 3rd quarter valued at about $3,178,000. Synovus Financial Corp purchased a new position in SPS Commerce during the 3rd quarter valued at about $1,809,000. JPMorgan Chase & Co. boosted its holdings in SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after acquiring an additional 104,210 shares during the period. Finally, State Street Corp boosted its holdings in SPS Commerce by 1.1% during the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after acquiring an additional 16,357 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SPS Commerce

In related news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the transaction, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,695 shares of company stock worth $7,781,086 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of analyst reports. Piper Sandler reduced their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price target on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Citigroup reduced their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Robert W. Baird reduced their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reduced their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Trading Up 0.5 %

Shares of SPSC stock opened at $126.51 on Wednesday. SPS Commerce, Inc. has a twelve month low of $122.74 and a twelve month high of $218.61. The company has a market capitalization of $4.78 billion, a P/E ratio of 62.02 and a beta of 0.92. The business’s 50 day moving average is $167.25 and its two-hundred day moving average is $181.53.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. As a group, equities analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

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.