Daiwa Securities Group Inc. Lowers Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Daiwa Securities Group Inc. lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 9.1% in the third quarter, Holdings Channel reports. The firm owned 11,034 shares of the software maker’s stock after selling 1,100 shares during the period. Daiwa Securities Group Inc.’s holdings in SPS Commerce were worth $2,142,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SPSC. Mather Group LLC. grew its holdings in shares of SPS Commerce by 800.0% during the 2nd 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. Opal Wealth Advisors LLC purchased a new stake in shares of SPS Commerce during the 2nd quarter worth about $30,000. Blue Trust Inc. grew its holdings in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. 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. Finally, DT Investment Partners LLC purchased a new stake in shares of SPS Commerce during the 2nd quarter worth about $63,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Down 0.4 %

Shares of SPSC opened at $192.57 on Friday. The business’s 50 day moving average is $186.66 and its two-hundred day moving average is $191.27. SPS Commerce, Inc. has a 52-week low of $160.58 and a 52-week high of $218.74. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 92.14 and a beta of 0.84.

SPS Commerce (NASDAQ:SPSC) last announced 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 for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. SPS Commerce’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. On average, equities analysts expect that SPS Commerce, Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPSC. Piper Sandler began coverage on SPS Commerce in a report on Monday. They set a “neutral” rating and a $198.00 target price for the company. Stifel Nicolaus boosted their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Finally, Robert W. Baird upped their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.78.

Insider Activity at SPS Commerce

In related news, CEO Chadwick Collins sold 6,839 shares of the company’s 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 directly owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.