SPS Commerce, Inc. (NASDAQ:SPSC) Short Interest Update

SPS Commerce, Inc. (NASDAQ:SPSC) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,010,000 shares, a decrease of 20.5% from the March 15th total of 1,270,000 shares. Based on an average trading volume of 343,700 shares, the short-interest ratio is presently 2.9 days. Approximately 2.7% of the company’s shares are short sold.

SPS Commerce Trading Up 0.3 %

NASDAQ:SPSC opened at $129.06 on Friday. The company has a market capitalization of $4.91 billion, a P/E ratio of 63.27 and a beta of 0.89. SPS Commerce has a 12 month low of $120.09 and a 12 month high of $218.61. The firm has a fifty day simple moving average of $133.39 and a 200-day simple moving average of $168.20.

SPS Commerce (NASDAQ:SPSC) last posted 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 net margin of 12.08% and a return on equity of 12.27%. Equities analysts forecast that SPS Commerce will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. DA Davidson reduced their price target on shares of SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a report on Monday, April 14th. Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Robert W. Baird cut their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a research note on Wednesday, March 26th. Finally, Northland Securities reiterated a “market perform” rating and issued a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average price target of $199.89.

Insiders Place Their Bets

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now directly owns 156,292 shares in the company, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dan Juckniess sold 2,591 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total value of $383,519.82. Following the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at approximately $202,429,783.68. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $6,613,078 in the last three months. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of SPS Commerce

Large investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its holdings in SPS Commerce by 126.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker’s stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce in the fourth quarter worth about $40,000. Hurley Capital LLC acquired a new stake in SPS Commerce during the fourth quarter worth about $41,000. Blue Trust Inc. raised its position in SPS Commerce by 49.1% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after acquiring an additional 84 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in SPS Commerce by 4,155.6% in the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker’s stock valued at $51,000 after acquiring an additional 374 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Company 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.