SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Choreo LLC

Choreo LLC lowered its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 12.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,622 shares of the software maker’s stock after selling 681 shares during the quarter. Choreo LLC’s holdings in SPS Commerce were worth $848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of SPS Commerce by 209.6% during the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of SPS Commerce during the third quarter valued at approximately $3,178,000. Synovus Financial Corp acquired a new stake in SPS Commerce during the third quarter worth approximately $1,809,000. JPMorgan Chase & Co. grew its stake in SPS Commerce by 69.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after acquiring an additional 104,210 shares during the period. Finally, State Street Corp raised its holdings in SPS Commerce by 1.1% in 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 last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Insider Activity at SPS Commerce

In related news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is currently owned by corporate insiders.

SPS Commerce Stock Down 1.0 %

SPSC opened at $178.31 on Monday. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The company has a 50 day moving average of $188.67 and a two-hundred day moving average of $190.13. The company has a market cap of $6.70 billion, a P/E ratio of 85.32 and a beta of 0.88.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SPSC. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a report on Wednesday, January 15th. Citigroup decreased their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Robert W. Baird upped their price objective 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 initiated coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective on the stock. Finally, Stifel Nicolaus lowered their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $219.22.

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.