Handelsbanken Fonder AB Cuts Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Handelsbanken Fonder AB lowered its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 55,100 shares of the software maker’s stock after selling 700 shares during the period. Handelsbanken Fonder AB’s holdings in SPS Commerce were worth $10,138,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in SPSC. State Street Corp grew its stake in shares of SPS Commerce by 1.1% during the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after buying an additional 16,357 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in SPS Commerce by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after acquiring an additional 21,170 shares during the last quarter. Geode Capital Management LLC increased its stake in SPS Commerce by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock worth $182,287,000 after purchasing an additional 14,174 shares during the period. FMR LLC lifted its position in SPS Commerce by 18.3% in the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SPS Commerce by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after purchasing an additional 8,186 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Performance

SPSC stock opened at $141.22 on Friday. SPS Commerce, Inc. has a fifty-two week low of $139.59 and a fifty-two week high of $218.61. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 69.23 and a beta of 0.88. The business’s 50 day moving average price is $179.85 and its two-hundred day moving average price is $186.46.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Sell-side analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Insider Transactions at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce 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 transaction, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. This trade 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 the SEC website. Also, EVP Dan Juckniess sold 2,591 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the completion of the sale, the executive vice president now owns 1,367,584 shares in the company, valued at $202,429,783.68. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,695 shares of company stock valued at $7,781,086 in the last three months. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on SPSC shares. Piper Sandler decreased their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus lowered their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Citigroup cut their target price 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. 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 report on Tuesday, February 11th. Finally, Robert W. Baird dropped their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

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.