Everence Capital Management Inc. Sells 860 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Everence Capital Management Inc. decreased its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 15.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,760 shares of the software maker’s stock after selling 860 shares during the period. Everence Capital Management Inc.’s holdings in SPS Commerce were worth $876,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SPSC. Commonwealth Equity Services LLC boosted its position in SPS Commerce by 10.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,493 shares of the software maker’s stock valued at $469,000 after acquiring an additional 232 shares in the last quarter. Rhumbline Advisers boosted its position in shares of SPS Commerce by 0.6% during the second quarter. Rhumbline Advisers now owns 107,052 shares of the software maker’s stock valued at $20,143,000 after purchasing an additional 671 shares in the last quarter. Victory Capital Management Inc. grew its stake in SPS Commerce by 7.4% in the second quarter. Victory Capital Management Inc. now owns 12,309 shares of the software maker’s stock worth $2,316,000 after purchasing an additional 848 shares during the period. Arizona State Retirement System lifted its position in SPS Commerce by 2.9% during the second quarter. Arizona State Retirement System now owns 10,382 shares of the software maker’s stock valued at $1,953,000 after buying an additional 297 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of SPS Commerce by 7.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the software maker’s stock worth $226,000 after buying an additional 83 shares during the period. Institutional investors own 98.96% of the company’s stock.

Insiders Place Their Bets

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

SPS Commerce Price Performance

SPSC stock opened at $186.85 on Friday. The company has a market cap of $7.02 billion, a P/E ratio of 89.40 and a beta of 0.88. SPS Commerce, Inc. has a 1 year low of $160.58 and a 1 year high of $218.74. The stock’s fifty day moving average price is $186.00 and its 200-day moving average price is $191.39.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. SPS Commerce’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. As a group, analysts expect that SPS Commerce, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPSC. Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target for the company. Stifel Nicolaus dropped their price target on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research note on Friday. Finally, Robert W. Baird lifted their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Six 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $218.00.

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.