SPS Commerce (NASDAQ:SPSC) EVP Jamie Thingelstad Sells 11,196 Shares of Stock

SPS Commerce, Inc. (NASDAQ:SPSC) EVP Jamie Thingelstad sold 11,196 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $81.59, for a total value of $913,481.64. Following the completion of the transaction, the executive vice president directly owned 95,777 shares in the company, valued at approximately $7,814,445.43. This trade represents a 10.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SPS Commerce Stock Performance

NASDAQ SPSC traded down $0.12 on Tuesday, reaching $80.92. 424,936 shares of the stock traded hands, compared to its average volume of 646,422. SPS Commerce, Inc. has a 12 month low of $49.04 and a 12 month high of $96.54. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 35.96 and a beta of 0.66. The company has a fifty day moving average price of $83.55 and a 200-day moving average price of $68.19.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 29th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The firm had revenue of $197.65 million for the quarter, compared to analyst estimates of $197.51 million. SPS Commerce had a return on equity of 13.72% and a net margin of 10.65%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. As a group, research analysts anticipate that SPS Commerce, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPSC has been the subject of several recent research reports. DA Davidson boosted their price target on shares of SPS Commerce from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Stifel Nicolaus lifted their price objective on shares of SPS Commerce from $70.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 14th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price (up from $60.00) on shares of SPS Commerce in a report on Friday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price (up from $75.00) on shares of SPS Commerce in a research report on Wednesday, August 19th. Finally, Zacks Research upgraded SPS Commerce from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.33.

Hedge Funds Weigh In On SPS Commerce

A number of large investors have recently made changes to their positions in SPSC. BlackRock Inc. acquired a new stake in shares of SPS Commerce in the 2nd quarter worth $339,259,000. State Street Corp increased its position in SPS Commerce by 3.1% during the 2nd quarter. State Street Corp now owns 1,545,696 shares of the software maker’s stock valued at $88,367,000 after buying an additional 45,886 shares in the last quarter. Bank of America Corp DE increased its position in SPS Commerce by 3.3% during the 1st quarter. Bank of America Corp DE now owns 998,622 shares of the software maker’s stock valued at $55,593,000 after buying an additional 31,434 shares in the last quarter. Jupiter Topco LLC acquired a new position in SPS Commerce during the 2nd quarter valued at about $56,260,000. Finally, Van Berkom & Associates Inc. boosted its holdings in SPS Commerce by 22.2% in the third quarter. Van Berkom & Associates Inc. now owns 770,136 shares of the software maker’s stock worth $63,490,000 after acquiring an additional 139,807 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Company Profile

SPS Commerce provides cloud-based supply chain management software and services, with a focus on helping retailers, suppliers, distributors and logistics providers exchange business information and coordinate transactions. Its platform connects trading partners and supports electronic data interchange (EDI), order processing and fulfillment workflows. The company also offers tools for supply chain analytics and product information management, along with implementation and ongoing support services.