PNC Financial Services Group Inc. Sells 125 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

PNC Financial Services Group Inc. reduced its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,071 shares of the software maker’s stock after selling 125 shares during the period. PNC Financial Services Group Inc.’s holdings in SPS Commerce were worth $1,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of SPS Commerce in the first quarter worth $329,000. Janus Henderson Group PLC lifted its position in SPS Commerce by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker’s stock worth $9,117,000 after acquiring an additional 813 shares during the last quarter. Cetera Advisors LLC bought a new stake in SPS Commerce during the first quarter valued at about $465,000. Moody National Bank Trust Division grew its position in shares of SPS Commerce by 4.8% in the second quarter. Moody National Bank Trust Division now owns 14,255 shares of the software maker’s stock valued at $2,682,000 after purchasing an additional 650 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Stock Performance

SPSC opened at $192.57 on Thursday. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 92.50 and a beta of 0.84. The firm’s 50-day simple moving average is $186.67 and its 200-day simple moving average is $191.26. SPS Commerce, Inc. has a twelve month low of $160.58 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. SPS Commerce’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, sell-side analysts anticipate that SPS Commerce, Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Piper Sandler initiated coverage on shares of SPS Commerce in a research note on Monday. They issued a “neutral” rating and a $198.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird increased their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average price target of $220.78.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the business’s 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 transaction, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate 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.