Riverbridge Partners LLC Sells 50,375 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Riverbridge Partners LLC lessened its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 651,602 shares of the software maker’s stock after selling 50,375 shares during the period. SPS Commerce accounts for 1.6% of Riverbridge Partners LLC’s holdings, making the stock its 19th biggest holding. Riverbridge Partners LLC’s holdings in SPS Commerce were worth $119,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of SPS Commerce by 140.8% in 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 during the last quarter. Advisors Asset Management Inc. increased its position in 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 purchasing an additional 100 shares during the period. Signaturefd LLC increased its position in SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares during the period. Avior Wealth Management LLC raised its holdings in SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after purchasing an additional 326 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of SPS Commerce in the 4th quarter worth approximately $69,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Down 0.7 %

Shares of SPS Commerce stock opened at $194.03 on Thursday. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74. The business has a 50 day moving average price of $188.54 and a 200-day moving average price of $191.38. The company has a market cap of $7.29 billion, a PE ratio of 92.84 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPSC. Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Wednesday, January 15th. Stifel Nicolaus lowered their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Piper Sandler initiated coverage on SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 target price for the company. Finally, Robert W. Baird boosted their price target on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.00.

Insider Activity

In other news, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction 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 sale, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. The trade was a 19.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction dated 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. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.