Kimberly K. Nelson Sells 9,290 Shares of SPS Commerce, Inc. (NASDAQ:SPSC) Stock

SPS Commerce, Inc. (NASDAQ:SPSC) CFO Kimberly K. Nelson sold 9,290 shares of the 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 directly owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SPS Commerce Stock Down 1.0 %

NASDAQ:SPSC opened at $178.31 on Monday. The stock’s fifty day moving average is $188.67 and its two-hundred day moving average is $190.13. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74. The company has a market capitalization of $6.70 billion, a P/E ratio of 85.32 and a beta of 0.88.

Institutional Investors Weigh In On SPS Commerce

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce in the 4th quarter valued at $40,000. R Squared Ltd acquired a new position in SPS Commerce during the 4th quarter worth about $57,000. Finally, Arcadia Investment Management Corp MI purchased a new position in SPS Commerce during the 4th quarter valued at about $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SPSC. Robert W. Baird increased their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Stifel Nicolaus lowered their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Wednesday, January 15th. Finally, Piper Sandler began coverage on SPS Commerce in a research report on Monday, November 25th. They set 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 company. According to data from MarketBeat.com, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $219.22.

About SPS Commerce

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.