Truist Financial Corp Has $2.20 Million Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Truist Financial Corp grew its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,953 shares of the software maker’s stock after purchasing an additional 930 shares during the quarter. Truist Financial Corp’s holdings in SPS Commerce were worth $2,199,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares during the period. Advisors Asset Management Inc. lifted its position in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after buying an additional 100 shares during the period. R Squared Ltd acquired a new stake in SPS Commerce during the 4th quarter valued at $57,000. Signaturefd LLC increased its holdings in SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $135.94 on Thursday. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 66.64 and a beta of 0.88. The stock’s 50-day moving average is $176.31 and its 200-day moving average is $185.23. SPS Commerce, Inc. has a one year low of $135.65 and a one year high of $218.61.

SPS Commerce (NASDAQ:SPSC) last issued 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 net margin of 12.08% and a return on equity of 12.27%. On average, equities analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on SPSC shares. Stifel Nicolaus lowered their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Citigroup reduced their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Piper Sandler reduced their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC reduced their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Robert W. Baird reduced their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Activity

In related news, EVP Dan Juckniess sold 2,591 shares of SPS Commerce stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the sale, the executive vice president now owns 1,367,584 shares of the company’s stock, valued at approximately $202,429,783.68. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the sale, the chief executive officer now directly owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,695 shares of company stock worth $7,781,086 over the last three months. Corporate insiders own 1.00% of the company’s stock.

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.