SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 246,536 shares of the software maker's stock after selling 8,588 shares during the period. Royal Bank of Canada owned about 0.66% of SPS Commerce worth $45,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC boosted its position 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 purchasing an additional 44,946 shares in the last quarter. Park Avenue Securities LLC boosted its position in SPS Commerce by 19.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,528 shares of the software maker's stock worth $833,000 after purchasing an additional 727 shares in the last quarter. Diversify Wealth Management LLC boosted its position in SPS Commerce by 37.8% during the fourth quarter. Diversify Wealth Management LLC now owns 4,900 shares of the software maker's stock worth $878,000 after purchasing an additional 1,345 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in SPS Commerce by 12.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 109,473 shares of the software maker's stock worth $20,142,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its position 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 purchasing an additional 3,000 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of recent analyst reports. 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 research report on Tuesday, February 11th. DA Davidson decreased their target price 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. Stifel Nicolaus decreased their target price 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. Robert W. Baird raised their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, SPS Commerce has a consensus rating of "Moderate Buy" and an average price target of $195.38.

SPS Commerce Price Performance

NASDAQ SPSC opened at $144.05 on Thursday. The company has a market cap of $5.47 billion, a PE ratio of 70.61 and a beta of 0.81. The stock's 50 day simple moving average is $136.43 and its 200-day simple moving average is $161.43. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.