Victory Capital Management Inc. Decreases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Victory Capital Management Inc. lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 26.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,101 shares of the software maker’s stock after selling 4,323 shares during the quarter. Victory Capital Management Inc.’s holdings in SPS Commerce were worth $2,226,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC grew its holdings in shares of SPS Commerce by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock worth $3,820,000 after purchasing an additional 54 shares during the period. Coldstream Capital Management Inc. grew its holdings in shares of SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock worth $237,000 after purchasing an additional 58 shares during the period. Amalgamated Bank grew its holdings in shares of SPS Commerce by 0.6% during the 4th quarter. Amalgamated Bank now owns 11,005 shares of the software maker’s stock worth $2,025,000 after purchasing an additional 61 shares during the period. Blue Trust Inc. grew its holdings in shares of SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after purchasing an additional 84 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Down 0.4 %

SPS Commerce stock opened at $128.91 on Tuesday. The stock has a market cap of $4.87 billion, a P/E ratio of 63.19 and a beta of 0.92. The stock has a 50 day moving average of $162.61 and a 200-day moving average of $179.53. SPS Commerce, Inc. has a 52 week low of $122.58 and a 52 week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. As a group, equities analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPSC shares. Robert W. Baird decreased their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Piper Sandler decreased their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Needham & Company LLC decreased their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Citigroup decreased their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Northland Securities restated a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Five research 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, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $207.11.

Insider Activity

In related news, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 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. In the last three months, insiders sold 43,695 shares of company stock worth $7,781,086. 1.00% of the stock is currently owned by insiders.

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.