SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 5.7% in the third quarter, HoldingsChannel.com reports. The fund owned 455,903 shares of the software maker’s stock after selling 27,496 shares during the quarter. Fred Alger Management LLC’s holdings in SPS Commerce were worth $88,523,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its position in SPS Commerce by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after buying an additional 21,170 shares during the last quarter. FMR LLC increased its stake in shares of SPS Commerce by 18.3% in the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after acquiring an additional 104,769 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of SPS Commerce by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after purchasing an additional 12,552 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SPS Commerce by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after purchasing an additional 8,186 shares during the period. Finally, Geneva Capital Management LLC lifted its position in SPS Commerce by 0.5% during the third quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker’s stock valued at $86,170,000 after purchasing an additional 1,994 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPSC shares. 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. Stifel Nicolaus raised 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 reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Finally, Piper Sandler started coverage on SPS Commerce in a research report on Monday. They issued a “neutral” rating and a $198.00 price objective on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $220.78.

Insider Buying and Selling

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’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 completion of the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of SPSC stock opened at $192.57 on Friday. SPS Commerce, Inc. has a 1-year low of $160.58 and a 1-year high of $218.74. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 92.14 and a beta of 0.84. The stock has a 50 day simple moving average of $186.60 and a 200-day simple moving average of $191.28.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts anticipate that SPS Commerce, Inc. will post 2.39 earnings per share 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.