SPS Commerce, Inc. (NASDAQ:SPSC) Short Interest Update

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,010,000 shares, a decrease of 20.5% from the March 15th total of 1,270,000 shares. Approximately 2.7% of the company's stock are short sold. Based on an average daily volume of 343,700 shares, the days-to-cover ratio is currently 2.9 days.

SPS Commerce Stock Performance

SPSC traded down $2.54 during midday trading on Friday, reaching $136.50. The company had a trading volume of 392,414 shares, compared to its average volume of 235,376. SPS Commerce has a 12-month low of $120.09 and a 12-month high of $218.61. The business has a 50-day moving average price of $132.08 and a two-hundred day moving average price of $166.79. The stock has a market cap of $5.19 billion, a PE ratio of 66.94 and a beta of 0.89.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The business had revenue of $181.55 million during the quarter, compared to analyst estimates of $179.57 million. During the same period in the prior year, the company earned $0.86 earnings per share. On average, research analysts anticipate that SPS Commerce will post 2.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of analyst reports. Citigroup lowered 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. DA Davidson dropped their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Robert W. Baird lifted their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday. Stifel Nicolaus lowered their price target on SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler cut their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $198.11.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 9,819 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the transaction, the executive vice president now directly owns 22,570 shares of the company's stock, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. 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 9,290 shares of the firm's 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 completion of the sale, the chief financial officer now directly owns 147,002 shares of the company's stock, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock valued at $6,613,078 in the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPS Commerce

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after buying an additional 742,686 shares in the last quarter. Norges Bank purchased a new stake in shares of SPS Commerce during the fourth quarter worth $81,543,000. JPMorgan Chase & Co. lifted its position in shares of SPS Commerce by 99.3% during the fourth quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock worth $93,286,000 after acquiring an additional 252,575 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker's stock worth $84,747,000 after acquiring an additional 210,284 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of SPS Commerce by 33.4% in the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock valued at $140,882,000 after purchasing an additional 191,740 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.