SPS Commerce (NASDAQ:SPSC) Stock: Insider Jamie Thingelstad Sells 11,196 Shares

Key Points

• EVP Jamie Thingelstad sold 11,196 SPS Commerce shares at an average $81.59, for about $913,482. He retained 95,777 shares after the sale, a 10.47% reduction in his ownership.
• SPS Commerce reported quarterly earnings of $1.39 per share, beating the $1.23 consensus estimate; revenue was $197.65 million, up 4.1% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $79.33. Shares traded at $80.92 in the report, down 0.1% on the day.

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) EVP Jamie Thingelstad sold 11,196 shares of SPS Commerce stock in a transaction on Friday, November 6th. The shares were sold at an average price of $81.59, for a total transaction of $913,481.64. Following the completion of the sale, the executive vice president owned 95,777 shares in the company, valued at approximately $7,814,445.43. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

SPS Commerce Stock Down 0.1%

SPSC stock traded down $0.12 during mid-day trading on Tuesday, hitting $80.92. The company had a trading volume of 424,936 shares, compared to its average volume of 646,422. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 35.96 and a beta of 0.66. SPS Commerce, Inc. has a 12-month low of $49.04 and a 12-month high of $96.54. The company has a 50-day moving average price of $83.55 and a 200 day moving average price of $68.19.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $70.00 price objective (up from $60.00) on shares of SPS Commerce in a research note on Friday, July 31st. Wall Street Zen raised shares of SPS Commerce from a "hold" rating to a "buy" rating in a report on Sunday, October 25th. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price target (up from $75.00) on shares of SPS Commerce in a research report on Wednesday, August 19th. Weiss Ratings raised SPS Commerce from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 2nd. Finally, DA Davidson upped their price objective on SPS Commerce from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $79.33.

Institutional Investors Weigh In On SPS Commerce

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in SPS Commerce during the 2nd quarter valued at $339,259,000. Jupiter Topco LLC purchased a new stake in SPS Commerce in the second quarter worth $56,260,000. Bessemer Group Inc. increased its stake in SPS Commerce by 540.5% in the third quarter. Bessemer Group Inc. now owns 766,101 shares of the software maker's stock worth $63,157,000 after purchasing an additional 646,483 shares during the period. Walleye Capital LLC increased its stake in SPS Commerce by 1,749.1% in the 1st quarter. Walleye Capital LLC now owns 457,635 shares of the software maker's stock worth $25,477,000 after buying an additional 432,886 shares during the period. Finally, Lightrock Netherlands B.V. boosted its position in SPS Commerce by 432.8% in the 1st quarter. Lightrock Netherlands B.V. now owns 441,669 shares of the software maker's stock valued at $24,588,000 after buying an additional 358,771 shares during the period. Institutional investors own 98.96% of the company's stock.

About SPS Commerce

SPS Commerce provides cloud-based supply chain management software and services, with a focus on helping retailers, suppliers, distributors and logistics providers exchange business information and coordinate transactions. Its platform connects trading partners and supports electronic data interchange (EDI), order processing and fulfillment workflows. The company also offers tools for supply chain analytics and product information management, along with implementation and ongoing support services.

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