SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lowered its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 796,177 shares of the software maker's stock after selling 32,000 shares during the quarter. SPS Commerce comprises approximately 2.1% of Riverbridge Partners LLC's investment portfolio, making the stock its 15th largest holding. Riverbridge Partners LLC owned about 2.17% of SPS Commerce worth $154,331,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in SPS Commerce by 33.3% in the 1st quarter. JPMorgan Chase & Co. now owns 84,491 shares of the software maker's stock worth $11,085,000 after buying an additional 21,119 shares during the period. HighTower Advisors LLC increased its holdings in SPS Commerce by 62.9% in the 1st quarter. HighTower Advisors LLC now owns 4,319 shares of the software maker's stock worth $572,000 after buying an additional 1,668 shares during the period. Bank of Montreal Can increased its holdings in SPS Commerce by 5.7% in the 1st quarter. Bank of Montreal Can now owns 14,234 shares of the software maker's stock worth $1,916,000 after buying an additional 772 shares during the period. MetLife Investment Management LLC increased its holdings in SPS Commerce by 55.3% in the 1st quarter. MetLife Investment Management LLC now owns 19,385 shares of the software maker's stock worth $2,543,000 after buying an additional 6,904 shares during the period. Finally, Rhumbline Advisers increased its holdings in SPS Commerce by 7.5% in the 1st quarter. Rhumbline Advisers now owns 90,421 shares of the software maker's stock worth $11,863,000 after buying an additional 6,294 shares during the period. Institutional investors and hedge funds own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SPSC. StockNews.com downgraded shares of SPS Commerce from a "buy" rating to a "hold" rating in a report on Friday, March 15th. Needham & Company LLC reiterated a "buy" rating and issued a $205.00 price target on shares of SPS Commerce in a report on Friday, February 9th. Finally, Citigroup initiated coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a "buy" rating and a $216.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $199.67.

SPS Commerce Trading Down 0.1 %

SPS Commerce stock traded down $0.13 during mid-day trading on Thursday, hitting $174.76. The company had a trading volume of 131,445 shares, compared to its average volume of 168,715. SPS Commerce, Inc. has a 12-month low of $140.00 and a 12-month high of $218.74. The company's fifty day moving average is $185.07 and its 200-day moving average is $179.08. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 99.30 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. The business had revenue of $144.97 million for the quarter, compared to analyst estimates of $143.05 million. As a group, sell-side analysts expect that SPS Commerce, Inc. will post 2.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Archie C. Black sold 12,875 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 89,940 shares of the company's stock, valued at approximately $16,137,034.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.42, for a total value of $2,310,032.50. Following the completion of the transaction, the director now directly owns 89,940 shares of the company's stock, valued at approximately $16,137,034.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the transaction, the director now directly owns 15,747 shares of the company's stock, valued at $3,102,631.41. The disclosure for this sale can be found here. Insiders sold 66,688 shares of company stock valued at $12,122,275 in the last three months. 1.20% of the stock is currently owned by insiders.

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.

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