Laurus Investment Counsel Inc. Sells 1,020 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Laurus Investment Counsel Inc. reduced its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.6% during the fourth quarter, HoldingsChannel reports. The fund owned 12,410 shares of the software maker’s stock after selling 1,020 shares during the quarter. SPS Commerce comprises 1.2% of Laurus Investment Counsel Inc.’s holdings, making the stock its 24th biggest position. Laurus Investment Counsel Inc.’s holdings in SPS Commerce were worth $2,406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPSC. International Assets Investment Management LLC purchased a new position in SPS Commerce during the 3rd quarter valued at about $25,000. NBC Securities Inc. purchased a new position in SPS Commerce during the 3rd quarter valued at about $35,000. Huntington National Bank grew its holdings in SPS Commerce by 66.1% during the 2nd quarter. Huntington National Bank now owns 201 shares of the software maker’s stock valued at $39,000 after buying an additional 80 shares in the last quarter. RiverPark Advisors LLC purchased a new position in SPS Commerce during the 3rd quarter valued at about $42,000. Finally, CVA Family Office LLC purchased a new position in SPS Commerce during the 4th quarter valued at about $44,000. 98.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SPSC shares. Citigroup started coverage on SPS Commerce in a report on Wednesday, March 13th. They set a “buy” rating and a $216.00 target price for the company. StockNews.com lowered SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and an average price target of $199.67.

Insider Activity at SPS Commerce

In related news, COO James J. Frome sold 12,887 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the completion of the transaction, the chief operating officer now owns 44,369 shares in the company, valued at $7,954,030.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO James J. Frome sold 12,887 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the completion of the transaction, the chief operating officer now owns 44,369 shares in the company, valued at $7,954,030.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kimberly K. Nelson sold 5,965 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total value of $1,092,609.05. Following the transaction, the chief financial officer now owns 147,553 shares of the company’s stock, valued at approximately $27,027,283.01. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock worth $12,122,275 over the last quarter. 1.20% of the stock is owned by corporate insiders.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $183.89 on Thursday. SPS Commerce, Inc. has a fifty-two week low of $140.00 and a fifty-two week high of $218.74. The stock has a 50 day moving average price of $185.84 and a two-hundred day moving average price of $179.00. The company has a market capitalization of $6.80 billion, a P/E ratio of 104.48 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. The firm had revenue of $144.97 million during the quarter, compared to the consensus estimate of $143.05 million. As a group, equities analysts predict that SPS Commerce, Inc. will post 2.13 earnings per share for the current 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.