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

Kayne Anderson Rudnick Investment Management LLC lessened its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 about 1.76% of SPS Commerce worth $121,759,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in SPS Commerce during the fourth quarter worth approximately $40,000. Hurley Capital LLC bought a new position in shares of SPS Commerce during the 4th quarter worth approximately $41,000. Blue Trust Inc. increased its holdings in shares of SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after acquiring an additional 84 shares during the last quarter. R Squared Ltd acquired a new stake in SPS Commerce during the 4th quarter valued at $57,000. Finally, Arcadia Investment Management Corp MI bought a new position in SPS Commerce during the fourth quarter worth $57,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

Shares of SPS Commerce stock traded down $2.54 during trading on Friday, reaching $136.50. 392,414 shares of the company's stock were exchanged, compared to its average volume of 235,376. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61. The company has a market cap of $5.19 billion, a P/E ratio of 66.94 and a beta of 0.89. The firm's 50-day moving average price is $132.08 and its 200 day moving average price is $166.79.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $179.57 million. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, equities research analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the company'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 value of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares in the company, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dan Juckniess sold 2,591 shares of SPS Commerce stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total transaction of $383,519.82. Following the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at approximately $202,429,783.68. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,864 shares of company stock worth $6,613,078. 0.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. DA Davidson cut their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note 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. Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Northland Securities restated a "market perform" rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $210.00 price objective on shares of SPS Commerce in a research report on Friday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $198.11.

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.