Kayne Anderson Rudnick Investment Management LLC Sells 49,840 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Kayne Anderson Rudnick Investment Management LLC reduced its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 661,767 shares of the software maker's stock after selling 49,840 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 1.76% of SPS Commerce worth $121,759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in SPS Commerce in the 4th quarter valued at about $40,000. Hurley Capital LLC bought a new stake in SPS Commerce in the 4th quarter valued at about $41,000. Blue Trust Inc. raised its stake in SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock valued at $47,000 after acquiring an additional 84 shares during the period. R Squared Ltd bought a new stake in SPS Commerce in the 4th quarter valued at about $57,000. Finally, Arcadia Investment Management Corp MI bought a new stake in SPS Commerce in the 4th quarter valued at about $57,000. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Performance

SPS Commerce stock traded down $3.11 during mid-day trading on Wednesday, hitting $142.76. 170,926 shares of the company traded hands, compared to its average volume of 244,449. SPS Commerce, Inc. has a one year low of $120.09 and a one year high of $218.61. The stock has a fifty day moving average price of $137.94 and a 200-day moving average price of $160.24. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 69.98 and a beta of 0.81.

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

Wall Street Analyst Weigh In

SPSC has been the topic of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research report on Friday, April 25th. Robert W. Baird boosted their target price on SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Piper Sandler lowered their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, Northland Securities reiterated a "market perform" rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $195.38.

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.