Truist Financial Corp Sells 5,064 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Truist Financial Corp lowered its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,086 shares of the software maker's stock after selling 5,064 shares during the quarter. Truist Financial Corp's holdings in SPS Commerce were worth $3,506,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of SPS Commerce by 18.0% during the third quarter. Commonwealth Equity Services LLC now owns 1,940 shares of the software maker's stock worth $331,000 after purchasing an additional 296 shares in the last quarter. Raymond James & Associates lifted its position in shares of SPS Commerce by 1.6% during the third quarter. Raymond James & Associates now owns 103,669 shares of the software maker's stock worth $17,687,000 after purchasing an additional 1,612 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of SPS Commerce by 3.9% during the third quarter. New York State Teachers Retirement System now owns 18,636 shares of the software maker's stock worth $3,179,000 after buying an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SPS Commerce by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,095 shares of the software maker's stock valued at $1,210,000 after acquiring an additional 854 shares in the last quarter. Finally, Strs Ohio grew its holdings in SPS Commerce by 1.0% during the 3rd quarter. Strs Ohio now owns 10,400 shares of the software maker's stock worth $1,774,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Trading Up 2.0 %

Shares of SPS Commerce stock traded up $3.71 during trading hours on Tuesday, hitting $192.68. 199,466 shares of the company were exchanged, compared to its average volume of 181,428. SPS Commerce, Inc. has a 1 year low of $149.98 and a 1 year high of $218.74. The business has a 50-day moving average of $178.48 and a 200-day moving average of $179.72. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 103.26 and a beta of 0.81.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results 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 12.06% and a net margin of 12.23%. The business had revenue of $144.97 million during the quarter, compared to analysts' expectations of $143.05 million. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPSC has been the subject of several analyst reports. Citigroup initiated coverage on SPS Commerce in a research report on Wednesday, March 13th. They set a "buy" rating and a $216.00 price objective for the company. William Blair reaffirmed a "market perform" rating on shares of SPS Commerce in a research report on Thursday, April 25th. Robert W. Baird upped their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the company a "neutral" rating in a research note on Friday, April 26th. Needham & Company LLC reiterated a "buy" rating and set a $205.00 target price on shares of SPS Commerce in a research report on Friday, April 26th. Finally, StockNews.com cut SPS Commerce from a "buy" rating to a "hold" rating in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $196.57.

Insider Buying and Selling

In related news, CFO Kimberly K. Nelson sold 5,197 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $187.44, for a total transaction of $974,125.68. Following the transaction, the chief financial officer now owns 153,518 shares of the company's stock, valued at $28,775,413.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the company's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following the sale, the director now owns 15,747 shares of the company's stock, valued at $3,102,631.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kimberly K. Nelson sold 5,197 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $187.44, for a total value of $974,125.68. Following the completion of the sale, the chief financial officer now directly owns 153,518 shares in the company, valued at approximately $28,775,413.92. The disclosure for this sale can be found here. Insiders have sold 28,019 shares of company stock valued at $5,186,345 over the last quarter. Company insiders own 1.00% of the company's stock.

About SPS Commerce

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.