Trust Point Inc. Sells 92 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Trust Point Inc. lessened its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 0.4% during the third quarter, HoldingsChannel.com reports. The fund owned 20,787 shares of the software maker’s stock after selling 92 shares during the period. Trust Point Inc.’s holdings in SPS Commerce were worth $4,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mather Group LLC. raised its stake in SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after buying an additional 128 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of SPS Commerce during the 2nd quarter valued at about $30,000. Fidelis Capital Partners LLC bought a new stake in shares of SPS Commerce in the 1st quarter valued at approximately $60,000. DT Investment Partners LLC purchased a new position in SPS Commerce during the second quarter worth $63,000. Finally, NBC Securities Inc. raised its position in SPS Commerce by 73.7% in the 1st quarter. NBC Securities Inc. now owns 363 shares of the software maker’s stock worth $67,000 after purchasing an additional 154 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPSC has been the subject of a number of recent analyst reports. DA Davidson boosted their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus boosted their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research report on Friday, August 2nd. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Craig Hallum lifted their target price on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

SPS Commerce Price Performance

Shares of SPSC traded up $0.75 during midday trading on Friday, reaching $195.08. The stock had a trading volume of 15,881 shares, compared to its average volume of 177,129. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 101.21 and a beta of 0.82. The company’s fifty day simple moving average is $193.70 and its two-hundred day simple moving average is $190.08. SPS Commerce, Inc. has a 1-year low of $151.96 and a 1-year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.