State of Alaska Department of Revenue Sells 221 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

State of Alaska Department of Revenue cut its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,356 shares of the software maker’s stock after selling 221 shares during the period. State of Alaska Department of Revenue’s holdings in SPS Commerce were worth $4,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in SPS Commerce by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,288,681 shares of the software maker’s stock valued at $831,318,000 after purchasing an additional 38,132 shares during the period. Congress Asset Management Co. MA raised its position in SPS Commerce by 1.5% during the first quarter. Congress Asset Management Co. MA now owns 843,310 shares of the software maker’s stock valued at $155,928,000 after purchasing an additional 12,397 shares during the period. Ameriprise Financial Inc. raised its position in SPS Commerce by 27.6% during the third quarter. Ameriprise Financial Inc. now owns 594,624 shares of the software maker’s stock valued at $101,449,000 after purchasing an additional 128,788 shares during the period. Dimensional Fund Advisors LP raised its position in SPS Commerce by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 492,802 shares of the software maker’s stock valued at $95,527,000 after purchasing an additional 7,179 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in SPS Commerce by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 431,703 shares of the software maker’s stock valued at $83,681,000 after purchasing an additional 12,091 shares during the period. 98.96% of the stock is owned by institutional investors.

SPS Commerce Price Performance

Shares of SPSC stock opened at $190.37 on Friday. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 104.03 and a beta of 0.85. The business has a fifty day moving average of $188.20 and a 200 day moving average of $184.78. 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 earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $149.58 million during the quarter, compared to analyst estimates of $146.50 million. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. As a group, equities research analysts expect that SPS Commerce, Inc. will post 2.23 earnings per share for the current year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of SPS Commerce stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the transaction, the director now owns 14,728 shares in the company, valued at approximately $2,855,759.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

SPSC has been the topic of a number of recent research reports. Citigroup upped their price objective on SPS Commerce from $213.00 to $222.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Robert W. Baird increased their price target on SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. William Blair reiterated a “market perform” rating on shares of SPS Commerce in a report on Thursday, April 25th. Redburn Atlantic initiated coverage on SPS Commerce in a report on Tuesday, May 14th. They issued a “buy” rating and a $220.00 price target on the stock. Finally, StockNews.com downgraded SPS Commerce from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, SPS Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.25.

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.