First Citizens Bank & Trust Co. Decreases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

First Citizens Bank & Trust Co. lowered its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 21.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,237 shares of the software maker’s stock after selling 898 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in SPS Commerce were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of SPS Commerce by 0.8% in the 1st quarter. Janus Henderson Group PLC now owns 25,290 shares of the software maker’s stock worth $1,176,000 after purchasing an additional 194 shares in the last quarter. Geode Capital Management LLC lifted its position in SPS Commerce by 6.0% during the 1st quarter. Geode Capital Management LLC now owns 549,728 shares of the software maker’s stock worth $25,567,000 after acquiring an additional 31,306 shares during the period. Thrivent Financial for Lutherans lifted its position in SPS Commerce by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 29,198 shares of the software maker’s stock worth $1,358,000 after acquiring an additional 1,457 shares during the period. Morgan Stanley lifted its position in SPS Commerce by 8.9% during the 1st quarter. Morgan Stanley now owns 411,381 shares of the software maker’s stock worth $19,133,000 after acquiring an additional 33,685 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in SPS Commerce by 162.2% during the 1st quarter. Meeder Asset Management Inc. now owns 4,930 shares of the software maker’s stock worth $229,000 after acquiring an additional 3,050 shares during the period. Hedge funds and other institutional investors own 98.67% of the company’s stock.

SPSC has been the subject of a number of research reports. Oppenheimer initiated coverage on SPS Commerce in a research report on Friday, July 31st. They set a “hold” rating for the company. Northland Securities lifted their price objective on SPS Commerce from $68.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Needham & Company LLC reiterated a “buy” rating on shares of SPS Commerce in a research note on Friday, July 31st. Zacks Investment Research lowered SPS Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, BidaskClub upgraded SPS Commerce from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 9th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. SPS Commerce presently has an average rating of “Buy” and a consensus target price of $71.38.

Shares of SPS Commerce stock opened at $87.29 on Friday. SPS Commerce, Inc. has a twelve month low of $31.28 and a twelve month high of $88.25. The business has a 50-day moving average price of $78.57 and a 200 day moving average price of $68.98. The firm has a market cap of $3.07 billion, a PE ratio of 81.58, a P/E/G ratio of 4.79 and a beta of 0.83.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 30th. The software maker reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. SPS Commerce had a return on equity of 11.54% and a net margin of 13.23%. The firm had revenue of $75.57 million during the quarter, compared to analyst estimates of $74.39 million. Sell-side analysts anticipate that SPS Commerce, Inc. will post 1.03 earnings per share for the current fiscal year.

In other SPS Commerce news, Director Philip Soran sold 7,120 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $72.76, for a total value of $518,051.20. Following the sale, the director now owns 23,030 shares of the company’s stock, valued at $1,675,662.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sven Wehrwein sold 2,620 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $75.30, for a total value of $197,286.00. Following the completion of the sale, the director now directly owns 18,910 shares in the company, valued at approximately $1,423,923. The disclosure for this sale can be found here. Insiders sold 139,058 shares of company stock worth $10,327,715 over the last quarter. 7.20% of the stock is currently owned by insiders.

SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.

Read More: Outstanding Shares, Buying and Selling Stocks

Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

Receive News & Ratings for SPS Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPS Commerce and related companies with MarketBeat.com's FREE daily email newsletter.