Teachers Retirement System of The State of Kentucky Reduces Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Teachers Retirement System of The State of Kentucky lessened its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 35.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,428 shares of the software maker's stock after selling 6,266 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in SPS Commerce were worth $2,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of SPS Commerce during the fourth quarter valued at approximately $40,000. Hurley Capital LLC bought a new position in shares of SPS Commerce during the 4th quarter valued at $41,000. Blue Trust Inc. boosted its stake in shares of SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after buying an additional 84 shares during the last quarter. R Squared Ltd bought a new stake in shares of SPS Commerce in the fourth quarter worth $57,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in SPS Commerce during the fourth quarter valued at $57,000. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Up 0.3 %

SPSC traded up $0.38 during trading on Thursday, reaching $143.89. The company's stock had a trading volume of 87,647 shares, compared to its average volume of 238,260. The firm has a fifty day simple moving average of $131.78 and a two-hundred day simple moving average of $165.26. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 70.56 and a beta of 0.89. SPS Commerce, Inc. has a 1 year low of $120.09 and a 1 year 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, beating the consensus estimate of $0.85 by $0.15. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The firm had revenue of $181.55 million for the quarter, compared to analysts' expectations of $179.57 million. During the same quarter in the previous year, the company posted $0.86 EPS. The company's revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Dan Juckniess sold 2,591 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total value of $383,519.82. Following the sale, the executive vice president now directly owns 1,367,584 shares in the company, valued at approximately $202,429,783.68. The trade was a 0.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the transaction, the chief financial officer now directly owns 147,002 shares of the company's stock, valued at approximately $26,620,592.18. This trade represents a 5.94 % decrease in their position. 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 over the last quarter. 0.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SPSC has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research note on Friday, April 25th. Piper Sandler decreased their target price on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Northland Securities restated a "market perform" rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Robert W. Baird boosted their price objective on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Finally, DA Davidson decreased their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, SPS Commerce has an average rating of "Moderate Buy" and a consensus target price of $198.11.

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.