Allspring Global Investments Holdings LLC decreased its stake in SPS Commerce, Inc. (NASDAQ:SPSC – Free Report) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,039 shares of the software maker’s stock after selling 23,980 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.46% of SPS Commerce worth $33,405,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Mather Group LLC. raised its holdings in shares of SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of SPS Commerce during the 2nd quarter valued at about $30,000. Blue Trust Inc. lifted its holdings in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of SPS Commerce in the 1st quarter valued at approximately $60,000. Finally, DT Investment Partners LLC acquired a new position in SPS Commerce in the second quarter worth approximately $63,000. Institutional investors and hedge funds own 98.96% of the company’s stock.
SPS Commerce Price Performance
NASDAQ:SPSC opened at $189.75 on Thursday. SPS Commerce, Inc. has a one year low of $151.96 and a one year high of $218.74. The company has a fifty day moving average price of $193.36 and a 200 day moving average price of $190.55. The stock has a market cap of $7.03 billion, a P/E ratio of 103.69 and a beta of 0.82.
Insider Activity at SPS Commerce
In related news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares of the company’s stock, valued at $3,264,286.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, August 2nd. Craig Hallum upped their price objective on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus increased their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Robert W. Baird increased their price objective on SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $220.25.
Check Out Our Latest Analysis on SPS Commerce
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.
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