SPS Commerce (NASDAQ:SPSC) Director Marty Reaume Sells 4,536 Shares of Stock

Key Points

• Director Marty Reaume sold 4,536 SPS Commerce shares at an average price of $86.86, for about $394,000. The sale reduced his position by 26.02%, leaving him with 12,894 shares.
• SPS Commerce reported quarterly earnings of $1.39 per share, beating the $1.23 consensus estimate; revenue rose 4.1% year over year to $197.65 million, roughly in line with forecasts.
• The stock fell 3.1% to $82.57 during Thursday’s trading. Analysts’ consensus rating was Hold, with an average price target of $79.33.

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) Director Marty Reaume sold 4,536 shares of the company's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $86.86, for a total transaction of $393,996.96. Following the completion of the transaction, the director owned 12,894 shares in the company, valued at approximately $1,119,972.84. This trade represents a 26.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

SPS Commerce Trading Down 3.1%

SPSC stock traded down $2.67 during mid-day trading on Thursday, hitting $82.57. 396,235 shares of the company were exchanged, compared to its average volume of 648,459. The business has a 50 day simple moving average of $83.63 and a 200-day simple moving average of $68.31. The stock has a market capitalization of $2.93 billion, a PE ratio of 36.70 and a beta of 0.66. SPS Commerce, Inc. has a 1-year low of $49.04 and a 1-year high of $96.54.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. SPS Commerce had a return on equity of 13.72% and a net margin of 10.65%. The business had revenue of $197.65 million during the quarter, compared to analysts' expectations of $197.51 million. During the same period last year, the firm posted $1.13 EPS. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts expect that SPS Commerce, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

SPSC has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price objective (up from $75.00) on shares of SPS Commerce in a research note on Wednesday, August 19th. Cantor Fitzgerald restated a "neutral" rating and set a $70.00 target price (up from $60.00) on shares of SPS Commerce in a research note on Friday, July 31st. DA Davidson raised their target price on SPS Commerce from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, October 30th. Zacks Research upgraded SPS Commerce from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a report on Sunday, October 25th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $79.33.

Hedge Funds Weigh In On SPS Commerce

Institutional investors have recently added to or reduced their stakes in the stock. Van Berkom & Associates Inc. grew its stake in shares of SPS Commerce by 22.2% in the third quarter. Van Berkom & Associates Inc. now owns 770,136 shares of the software maker's stock worth $63,490,000 after purchasing an additional 139,807 shares during the last quarter. Fulcrum Asset Management LLP increased its holdings in SPS Commerce by 4,896.3% in the third quarter. Fulcrum Asset Management LLP now owns 5,446 shares of the software maker's stock valued at $447,000 after purchasing an additional 5,337 shares during the period. Allspring Global Investments Holdings LLC raised its position in SPS Commerce by 5.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,418 shares of the software maker's stock worth $456,000 after purchasing an additional 301 shares during the last quarter. Parallel Advisors LLC raised its position in SPS Commerce by 100.0% during the 3rd quarter. Parallel Advisors LLC now owns 566 shares of the software maker's stock worth $47,000 after purchasing an additional 283 shares during the last quarter. Finally, Inscription Capital LLC bought a new position in SPS Commerce during the 3rd quarter worth $276,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management software for retailers, suppliers, distributors and logistics providers. Its platform helps businesses manage and automate transactions and workflows across complex retail and e-commerce networks.

The company's solutions include electronic data interchange (EDI), order management, inventory visibility, fulfillment, invoice and payment processing, product information management, and supply chain analytics. These tools are designed to connect trading partners, reduce manual data entry, improve order accuracy and support more efficient movement of products from suppliers to consumers.

Founded in 2001 and headquartered in Minneapolis, Minnesota, SPS Commerce serves businesses across retail and wholesale ecosystems in North America and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.