Invesco Ltd. Reduces Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Invesco Ltd. cut its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 70.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,960 shares of the software maker's stock after selling 319,152 shares during the period. Invesco Ltd. owned 0.36% of SPS Commerce worth $24,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of SPS Commerce by 3.6% in the 4th quarter. Bank of Montreal Can now owns 10,992 shares of the software maker's stock valued at $2,022,000 after purchasing an additional 386 shares in the last quarter. FMR LLC grew its stake in shares of SPS Commerce by 109.7% in the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after buying an additional 742,686 shares during the period. Russell Investments Group Ltd. boosted its position in shares of SPS Commerce by 2.7% during the fourth quarter. Russell Investments Group Ltd. now owns 48,232 shares of the software maker's stock valued at $8,873,000 after buying an additional 1,259 shares during the last quarter. Hurley Capital LLC bought a new position in SPS Commerce during the fourth quarter valued at approximately $41,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of SPS Commerce during the fourth quarter valued at approximately $244,000. Institutional investors and hedge funds own 98.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SPSC shares. DA Davidson dropped their price objective on SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a report on Monday, April 14th. Piper Sandler reduced their price target on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Citigroup decreased their price objective on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a report on Monday, January 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a research report on Wednesday, March 26th. Finally, Stifel Nicolaus dropped their price target 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. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $199.89.

Insiders Place Their Bets

In related news, EVP Dan Juckniess sold 2,591 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total transaction of $383,519.82. Following the completion of the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at $202,429,783.68. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the sale, the chief financial officer now owns 156,292 shares of the company's stock, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $6,613,078 in the last three months. Corporate insiders own 0.98% of the company's stock.

SPS Commerce Stock Up 2.9 %

NASDAQ SPSC traded up $3.82 during trading hours on Thursday, reaching $136.34. The company's stock had a trading volume of 73,417 shares, compared to its average volume of 232,506. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 66.83 and a beta of 0.89. The firm's 50-day moving average price is $132.22 and its 200-day moving average price is $167.14. 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 issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Equities research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

SPS Commerce Company 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.