SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,201 shares of the software maker’s stock after selling 590 shares during the period. M&T Bank Corp’s holdings in SPS Commerce were worth $957,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPSC. Franklin Resources Inc. raised its holdings in SPS Commerce by 94.5% in the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after buying an additional 210,284 shares during the period. FMR LLC increased its stake in SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after purchasing an additional 104,769 shares during the period. JPMorgan Chase & Co. increased its stake in SPS Commerce by 69.4% during 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 period. Loomis Sayles & Co. L P purchased a new stake in SPS Commerce during the third quarter worth about $17,128,000. Finally, Proficio Capital Partners LLC purchased a new stake in SPS Commerce during the fourth quarter worth about $14,083,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of recent research reports. Needham & Company LLC cut their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Citigroup cut their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Northland Securities reiterated a “market perform” rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Stifel Nicolaus cut their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Robert W. Baird cut their price target 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. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Stock Up 0.5 %

Shares of SPSC opened at $126.51 on Wednesday. The stock has a 50 day moving average price of $167.25 and a 200 day moving average price of $181.53. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 62.02 and a beta of 0.92. SPS Commerce, Inc. has a 52-week low of $122.74 and a 52-week high of $218.61.

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

Insider Activity

In other SPS Commerce news, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the transaction, the chief executive officer now owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the transaction, the executive vice president now owns 22,570 shares of the company’s stock, valued at $4,167,776.20. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,695 shares of company stock valued at $7,781,086. 1.00% of the stock is currently owned by company insiders.

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.