Oak Ridge Investments LLC Decreases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Oak Ridge Investments LLC cut its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 44.5% during the fourth quarter, HoldingsChannel reports. The firm owned 12,834 shares of the software maker’s stock after selling 10,286 shares during the quarter. Oak Ridge Investments LLC’s holdings in SPS Commerce were worth $2,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in SPS Commerce by 10.3% in the second quarter. Commonwealth Equity Services LLC now owns 2,493 shares of the software maker’s stock valued at $469,000 after buying an additional 232 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SPS Commerce by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock valued at $93,583,000 after acquiring an additional 12,552 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of SPS Commerce by 12.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,681 shares of the software maker’s stock valued at $1,069,000 after acquiring an additional 629 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of SPS Commerce by 448.2% during the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock worth $6,295,000 after acquiring an additional 27,376 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in SPS Commerce during the second quarter worth approximately $876,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $191.00 on Friday. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74. The company has a market cap of $7.18 billion, a P/E ratio of 91.39 and a beta of 0.88. The firm has a fifty day moving average of $188.14 and a two-hundred day moving average of $191.32.

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

Insider Activity at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value 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 $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

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

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.