SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson Sells 9,290 Shares of Stock

SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction 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 sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. This represents a 5.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SPS Commerce Price Performance

SPSC stock opened at $178.31 on Friday. SPS Commerce, Inc. has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 85.32 and a beta of 0.88. The business’s fifty day moving average price is $188.96 and its two-hundred day moving average price is $190.56.

Hedge Funds Weigh In On SPS Commerce

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 100 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $40,000. R Squared Ltd bought a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $57,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in SPS Commerce during the fourth quarter worth approximately $57,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPSC. Citigroup cut their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Robert W. Baird raised their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Piper Sandler assumed 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. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Wednesday, January 15th. Finally, Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, SPS Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.22.

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.