SPS Commerce, Inc. (NASDAQ:SPSC) Position Reduced by Redwood Investments LLC

Redwood Investments LLC cut its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 72.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,793 shares of the software maker's stock after selling 61,786 shares during the quarter. SPS Commerce comprises approximately 1.2% of Redwood Investments LLC's portfolio, making the stock its 22nd biggest position. Redwood Investments LLC owned approximately 0.06% of SPS Commerce worth $4,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SPSC. McGlone Suttner Wealth Management Inc. bought a new stake in SPS Commerce in the 4th quarter worth about $26,000. International Assets Investment Management LLC bought a new stake in SPS Commerce during the 3rd quarter valued at approximately $25,000. NBC Securities Inc. bought a new stake in SPS Commerce during the 3rd quarter valued at approximately $35,000. CVA Family Office LLC bought a new stake in SPS Commerce during the 4th quarter valued at approximately $44,000. Finally, RiverPark Advisors LLC bought a new stake in SPS Commerce during the 3rd quarter valued at approximately $42,000. 98.96% of the stock is currently owned by institutional investors.

Insider Activity at SPS Commerce

In related news, Director Archie C. Black sold 12,875 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the transaction, the director now owns 89,940 shares in the company, valued at approximately $16,137,034.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO James J. Frome sold 2,901 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total transaction of $531,811.32. Following the completion of the transaction, the chief operating officer now owns 54,029 shares in the company, valued at approximately $9,904,596.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Archie C. Black sold 12,875 shares of the business's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total value of $2,310,032.50. Following the transaction, the director now owns 89,940 shares of the company's stock, valued at approximately $16,137,034.80. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock worth $12,122,275 in the last quarter. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup assumed coverage on SPS Commerce in a research note on Wednesday, March 13th. They issued a "buy" rating and a $216.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $205.00 price objective on shares of SPS Commerce in a research note on Friday, February 9th. Finally, StockNews.com downgraded SPS Commerce from a "buy" rating to a "hold" rating in a research note on Friday, March 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $199.67.

SPS Commerce Trading Down 0.4 %

Shares of NASDAQ SPSC traded down $0.66 during trading hours on Monday, hitting $184.24. 149,148 shares of the company traded hands, compared to its average volume of 169,102. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 104.68 and a beta of 0.79. The company's 50 day moving average price is $185.81 and its 200 day moving average price is $179.14. SPS Commerce, Inc. has a 12 month low of $140.00 and a 12 month high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $144.97 million for the quarter, compared to the consensus estimate of $143.05 million. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. Equities analysts anticipate that SPS Commerce, Inc. will post 2.13 EPS for the current year.

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.