SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 199,344 shares of the software maker’s stock after selling 2,819 shares during the quarter. California Public Employees Retirement System’s holdings in SPS Commerce were worth $38,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPSC. McGlone Suttner Wealth Management Inc. acquired a new stake in SPS Commerce during the fourth quarter valued at $26,000. NBC Securities Inc. acquired a new stake in SPS Commerce during the third quarter valued at $35,000. RiverPark Advisors LLC acquired a new stake in SPS Commerce during the third quarter valued at $42,000. CVA Family Office LLC acquired a new stake in SPS Commerce during the fourth quarter valued at $44,000. Finally, Operose Advisors LLC acquired a new stake in shares of SPS Commerce in the third quarter valued at about $46,000. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Activity

In other news, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the sale, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the sale, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly K. Nelson sold 12,907 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.41, for a total transaction of $2,315,644.87. Following the completion of the sale, the chief financial officer now owns 157,251 shares of the company’s stock, valued at approximately $28,212,401.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,688 shares of company stock valued at $12,122,275. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research report on Friday. Citigroup assumed coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 target price on the stock. Finally, StockNews.com lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average price target of $196.57.

SPS Commerce Trading Up 5.6 %

NASDAQ:SPSC opened at $178.96 on Friday. The company’s 50-day moving average price is $179.25 and its 200-day moving average price is $179.04. The company has a market cap of $6.64 billion, a P/E ratio of 97.79 and a beta of 0.79. SPS Commerce, Inc. has a twelve month low of $140.00 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. The company had revenue of $144.97 million for the quarter, compared to the consensus estimate of $143.05 million. On average, analysts expect that SPS Commerce, Inc. will post 2.13 earnings per share for the current year.

SPS Commerce Company 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.