Man Group plc Sells 15,922 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Man Group plc decreased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 30.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,842 shares of the software maker's stock after selling 15,922 shares during the quarter. Man Group plc owned about 0.10% of SPS Commerce worth $6,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its holdings in SPS Commerce by 209.6% during the third quarter. Barclays PLC now owns 66,387 shares of the software maker's stock worth $12,890,000 after buying an additional 44,946 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SPS Commerce by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker's stock worth $88,576,000 after buying an additional 16,272 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in SPS Commerce by 2.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker's stock worth $1,047,000 after buying an additional 110 shares in the last quarter. Van ECK Associates Corp grew its holdings in SPS Commerce by 35.7% during the fourth quarter. Van ECK Associates Corp now owns 29,919 shares of the software maker's stock worth $5,505,000 after buying an additional 7,871 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in SPS Commerce by 75.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 7,000 shares of the software maker's stock worth $1,288,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 98.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Robert W. Baird boosted their price objective on SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Northland Securities reissued a "market perform" rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Piper Sandler cut their price objective on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus cut their price objective on SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, DA Davidson cut their price objective on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $195.38.

SPS Commerce Stock Performance

SPSC stock opened at $149.28 on Tuesday. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 73.18 and a beta of 0.81. SPS Commerce, Inc. has a fifty-two week low of $120.09 and a fifty-two week high of $218.61. The stock has a fifty day moving average of $135.62 and a 200-day moving average of $161.64.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. The company had revenue of $181.55 million during the quarter, compared to the consensus estimate of $179.57 million. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Equities analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Insider Transactions at SPS Commerce

In related news, CFO Kimberly K. Nelson sold 4,034 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.17, for a total transaction of $597,717.78. Following the sale, the chief financial officer now owns 2,442,968 shares of the company's stock, valued at approximately $361,974,568.56. This represents a 0.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the sale, the executive vice president now directly owns 1,367,584 shares in the company, valued at $202,429,783.68. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,465 shares of company stock worth $1,401,898. 0.98% of the stock is owned by company insiders.

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.

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