KLP Kapitalforvaltning AS Makes New $1.42 Million Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

KLP Kapitalforvaltning AS bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,700 shares of the software maker’s stock, valued at approximately $1,417,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Advisors Asset Management Inc. raised its position in SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after purchasing an additional 100 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of SPS Commerce during the 4th quarter valued at approximately $40,000. Blue Trust Inc. raised its holdings in SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after buying an additional 84 shares during the period. R Squared Ltd purchased a new position in SPS Commerce during the fourth quarter worth $57,000. Finally, Arcadia Investment Management Corp MI purchased a new position in SPS Commerce during the fourth quarter worth $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPSC has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Northland Securities reissued a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Piper Sandler reduced their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a report on Wednesday. Finally, Robert W. Baird reduced their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $207.11.

Insider Activity

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares in the company, valued at $4,167,776.20. This represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the transaction, the chief financial officer now owns 147,002 shares in the company, valued at $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,864 shares of company stock worth $6,613,078. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Trading Down 2.0 %

Shares of SPSC stock opened at $133.50 on Friday. SPS Commerce, Inc. has a twelve month low of $122.58 and a twelve month high of $218.61. The stock has a fifty day simple moving average of $152.14 and a two-hundred day simple moving average of $175.44. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 65.44 and a beta of 0.92.

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

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.