Norden Group LLC Decreases Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Norden Group LLC cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,252 shares of the software maker’s stock after selling 448 shares during the quarter. Norden Group LLC’s holdings in SPS Commerce were worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Mather Group LLC. grew its stake in shares of SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after acquiring an additional 128 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of SPS Commerce during the 2nd quarter worth $30,000. UMB Bank n.a. boosted its stake in SPS Commerce by 224.7% in the 1st quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after purchasing an additional 164 shares during the period. Fidelis Capital Partners LLC bought a new position in SPS Commerce in the 1st quarter worth about $60,000. Finally, DT Investment Partners LLC bought a new position in SPS Commerce in the 2nd quarter worth about $63,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Down 1.5 %

SPSC traded down $2.75 during midday trading on Friday, reaching $185.85. The company had a trading volume of 171,000 shares, compared to its average volume of 124,641. The business has a 50-day moving average of $197.75 and a two-hundred day moving average of $188.28. The company has a market cap of $6.90 billion, a P/E ratio of 101.56 and a beta of 0.82. SPS Commerce, Inc. has a 1 year low of $151.96 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The company had revenue of $153.60 million during the quarter, compared to analyst estimates of $151.87 million. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. On average, equities research analysts predict that SPS Commerce, Inc. will post 2.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SPSC shares. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Stifel Nicolaus raised their price objective on SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, July 26th. Citigroup raised their price objective on SPS Commerce from $213.00 to $222.00 and gave the company a “buy” rating in a report on Friday, May 10th. Robert W. Baird lifted their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

Insider Transactions at SPS Commerce

In other SPS Commerce news, Director Philip Soran sold 3,285 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the transaction, the director now directly owns 18,852 shares in the company, valued at approximately $3,771,531.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other SPS Commerce news, Director Philip Soran sold 3,285 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the transaction, the director now directly owns 18,852 shares in the company, valued at approximately $3,771,531.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,675 shares of company stock worth $1,551,735. 1.00% of the stock is currently owned by company insiders.

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.