SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lowered its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,803 shares of the software maker’s stock after selling 214 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in SPS Commerce were worth $332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC lifted its stake in shares of SPS Commerce by 19.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,528 shares of the software maker’s stock worth $833,000 after buying an additional 727 shares during the period. Assenagon Asset Management S.A. lifted its position in SPS Commerce by 58.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 186,344 shares of the software maker’s stock worth $34,285,000 after acquiring an additional 69,029 shares during the period. Harbor Capital Advisors Inc. grew its stake in SPS Commerce by 18.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,040 shares of the software maker’s stock valued at $191,000 after purchasing an additional 160 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of SPS Commerce by 13.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 1,010 shares of the software maker’s stock valued at $186,000 after purchasing an additional 120 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction 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 transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SPSC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a report on Wednesday. Piper Sandler began coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target for the company. Robert W. Baird increased their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus cut their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.00.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $191.00 on Friday. The firm has a market cap of $7.18 billion, a P/E ratio of 91.39 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 has a fifty day moving average price of $188.14 and a two-hundred day moving average price of $191.33.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $160.30 million. During the same quarter in the prior year, the business posted $0.53 EPS. SPS Commerce’s quarterly revenue was up 20.7% on a year-over-year basis. On average, research analysts predict that SPS Commerce, Inc. will post 2.38 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.