AMI Asset Management Corp Reduces Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

AMI Asset Management Corp decreased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,067 shares of the software maker’s stock after selling 247 shares during the quarter. AMI Asset Management Corp’s holdings in SPS Commerce were worth $1,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after purchasing an additional 44,946 shares during the period. AXA S.A. lifted its stake in SPS Commerce by 19.4% in the second quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock valued at $5,530,000 after buying an additional 4,784 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of SPS Commerce in the third quarter valued at approximately $3,178,000. Synovus Financial Corp purchased a new position in shares of SPS Commerce during the third quarter worth approximately $1,809,000. Finally, Hsbc Holdings PLC increased its holdings in shares of SPS Commerce by 448.2% in the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock valued at $6,295,000 after acquiring an additional 27,376 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

SPS Commerce Stock Down 0.2 %

SPS Commerce stock opened at $191.00 on Tuesday. The firm’s 50-day simple moving average is $188.22 and its 200 day simple moving average is $191.33. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74. The firm has a market capitalization of $7.18 billion, a PE ratio of 91.39 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. On average, research analysts expect that SPS Commerce, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

SPSC has been the subject of a number of recent analyst reports. Piper Sandler assumed coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company. Robert W. Baird raised their price target on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Stifel Nicolaus dropped their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

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.