Allspring Global Investments Holdings LLC Has $33.41 Million Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Allspring Global Investments Holdings LLC decreased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) 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.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The business had revenue of $153.60 million during the quarter, compared to analyst estimates of $151.87 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, equities research analysts anticipate that SPS Commerce, Inc. will post 2.32 EPS for the current year.

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.

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.