New York State Teachers Retirement System Sells 3,107 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

New York State Teachers Retirement System cut its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,728 shares of the software maker’s stock after selling 3,107 shares during the quarter. New York State Teachers Retirement System’s holdings in SPS Commerce were worth $2,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPSC. Pathstone Holdings LLC grew its position in shares of SPS Commerce by 0.3% in the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock worth $3,820,000 after buying an additional 54 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in SPS Commerce by 4.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock worth $256,000 after purchasing an additional 55 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of SPS Commerce by 5.0% during the third quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock valued at $237,000 after purchasing an additional 58 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of SPS Commerce by 2.8% during the third quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock valued at $449,000 after purchasing an additional 62 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of SPS Commerce by 26.0% in the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after purchasing an additional 69 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SPSC shares. Northland Securities reissued a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Piper Sandler cut their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Robert W. Baird dropped their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reduced their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $207.11.

Insider Activity at SPS Commerce

In other news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the sale, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. The trade was a 19.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the sale, the chief financial officer now directly owns 156,292 shares in the company, valued at $28,864,006.56. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,695 shares of company stock valued at $7,781,086. Insiders own 1.00% of the company’s stock.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $141.22 on Friday. The company has a fifty day moving average of $179.85 and a 200 day moving average of $186.46. The company has a market capitalization of $5.33 billion, a P/E ratio of 69.23 and a beta of 0.88. SPS Commerce, Inc. has a fifty-two week low of $139.59 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. Analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current year.

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.