Norden Group LLC Lowers Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Norden Group LLC reduced its stake in SPS Commerce, Inc. by 27.1% during the first quarter, owning 10,815 shares worth approximately $1.43 million after selling 4,014 shares.
• Other institutional investors, such as FMR LLC and JPMorgan Chase, have significantly increased their holdings in SPS Commerce, with FMR LLC boosting its stake by 109.7% in the last quarter.
• SPS Commerce has a market capitalization of $5.33 billion and a current analyst consensus rating of "Moderate Buy" with a target price of $187.00.

Norden Group LLC lessened its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 27.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,815 shares of the software maker's stock after selling 4,014 shares during the quarter. Norden Group LLC's holdings in SPS Commerce were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SPSC. FMR LLC boosted its stake in shares of SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after acquiring an additional 742,686 shares in the last quarter. Norges Bank purchased a new stake in shares of SPS Commerce during the 4th quarter worth approximately $81,543,000. JPMorgan Chase & Co. boosted its stake in shares of SPS Commerce by 99.3% during the 4th quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock worth $93,286,000 after acquiring an additional 252,575 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of SPS Commerce by 33.4% during the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after acquiring an additional 191,740 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of SPS Commerce during the 4th quarter worth approximately $27,441,000. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Performance

Shares of SPSC opened at $140.21 on Tuesday. The stock has a fifty day moving average of $139.15 and a two-hundred day moving average of $144.78. The company has a market capitalization of $5.33 billion, a PE ratio of 65.52 and a beta of 0.71. SPS Commerce, Inc. has a fifty-two week low of $120.08 and a fifty-two week high of $218.61.

Analyst Ratings Changes

SPSC has been the topic of several research analyst reports. DA Davidson decreased their price target on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Robert W. Baird upped their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Cantor Fitzgerald started coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price on the stock. Finally, Morgan Stanley started coverage on SPS Commerce in a research note on Monday, July 14th. They issued an "overweight" rating and a $180.00 target price on the stock. Four analysts have rated the stock with a hold rating and seven have assigned 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 $187.00.

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.

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