Daiwa Securities Group Inc. Trims Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Daiwa Securities Group Inc. trimmed its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 9.3% in the second quarter, HoldingsChannel reports. The firm owned 12,134 shares of the software maker’s stock after selling 1,250 shares during the period. Daiwa Securities Group Inc.’s holdings in SPS Commerce were worth $2,283,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SPSC. Mather Group LLC. grew its holdings 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 in the second quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of SPS Commerce by 224.7% during the first quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock valued at $44,000 after acquiring an additional 164 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of SPS Commerce during the first quarter valued at $60,000. Finally, DT Investment Partners LLC purchased a new stake in SPS Commerce during the 2nd quarter worth about $63,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. DA Davidson upped their price objective 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. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Robert W. Baird increased their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $220.25.

SPS Commerce Stock Up 2.5 %

Shares of SPSC opened at $192.85 on Friday. The firm has a market cap of $7.15 billion, a PE ratio of 105.38 and a beta of 0.82. The company’s fifty day moving average is $197.43 and its two-hundred day moving average is $188.35. SPS Commerce, Inc. has a fifty-two week low of $151.96 and a fifty-two week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, equities research analysts anticipate that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

Insider Activity

In related news, Director Philip Soran sold 3,285 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $200.06, for a total transaction of $657,197.10. Following the completion of the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Philip Soran sold 3,285 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $200.06, for a total value of $657,197.10. Following the completion of the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. Insiders have sold 7,675 shares of company stock valued at $1,551,735 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.