Lord Abbett & CO. LLC Has $537,000 Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Lord Abbett & CO. LLC decreased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 99.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,921 shares of the software maker's stock after selling 280,764 shares during the quarter. Lord Abbett & CO. LLC's holdings in SPS Commerce were worth $537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oberweis Asset Management Inc. increased its holdings in SPS Commerce by 34.3% in the 4th quarter. Oberweis Asset Management Inc. now owns 46,600 shares of the software maker's stock valued at $8,574,000 after purchasing an additional 11,900 shares in the last quarter. Hancock Whitney Corp lifted its position in shares of SPS Commerce by 8.3% during the fourth quarter. Hancock Whitney Corp now owns 1,193 shares of the software maker's stock worth $220,000 after purchasing an additional 91 shares during the last quarter. MGO One Seven LLC grew its position in shares of SPS Commerce by 19.8% in the 4th quarter. MGO One Seven LLC now owns 4,078 shares of the software maker's stock worth $750,000 after acquiring an additional 674 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in SPS Commerce in the fourth quarter worth $242,000. Finally, Hsbc Holdings PLC increased its stake in SPS Commerce by 5.3% during the fourth quarter. Hsbc Holdings PLC now owns 5,729 shares of the software maker's stock valued at $1,058,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Stock Down 1.0 %

Shares of SPSC traded down $1.42 during midday trading on Thursday, reaching $142.09. 487,540 shares of the stock were exchanged, compared to its average volume of 239,503. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 69.65 and a beta of 0.89. The firm has a 50 day simple moving average of $131.87 and a 200-day simple moving average of $164.89. SPS Commerce, Inc. has a 12-month low of $120.09 and a 12-month high of $218.61.

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 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 company had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business's quarterly revenue was up 21.4% compared to the same quarter last year. Research analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dan Juckniess sold 2,591 shares of the firm's stock in a transaction dated 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 directly owns 1,367,584 shares of the company's stock, valued at approximately $202,429,783.68. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total value of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,755 shares of company stock valued at $3,084,225 in the last quarter. Insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPSC shares. Citigroup cut their target price on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Piper Sandler lowered their target price on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird upped their price objective on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, April 25th. DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC restated a "buy" rating and set a $210.00 price objective on shares of SPS Commerce in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $198.11.

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.