Short Interest in SPS Commerce, Inc. (NASDAQ:SPSC) Drops By 20.5%

SPS Commerce, Inc. (NASDAQ:SPSC) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,010,000 shares, a decrease of 20.5% from the March 15th total of 1,270,000 shares. Based on an average trading volume of 343,700 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.7% of the company’s stock are short sold.

Insider Activity at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the transaction, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,864 shares of company stock valued at $6,613,078. 0.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SPS Commerce

Several institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after acquiring an additional 44,946 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of SPS Commerce by 7.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,102 shares of the software maker’s stock valued at $587,000 after purchasing an additional 213 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of SPS Commerce by 15.8% in the 3rd quarter. Tidal Investments LLC now owns 1,937 shares of the software maker’s stock worth $376,000 after purchasing an additional 265 shares during the period. Synovus Financial Corp bought a new position in shares of SPS Commerce during the 3rd quarter valued at approximately $1,809,000. Finally, Franklin Resources Inc. raised its holdings in SPS Commerce by 94.5% during 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. Institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Northland Securities reissued a “market perform” rating and issued a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of SPS Commerce in a research report on Wednesday, March 26th. Stifel Nicolaus reduced their price objective 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 cut their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, DA Davidson decreased their price objective on SPS Commerce from $245.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.89.

SPS Commerce Stock Performance

SPSC traded down $2.48 during trading on Monday, reaching $126.58. 135,367 shares of the company traded hands, compared to its average volume of 331,254. The firm has a fifty day simple moving average of $133.39 and a 200 day simple moving average of $168.08. SPS Commerce has a 12-month low of $120.08 and a 12-month high of $218.61. The company has a market cap of $4.81 billion, a P/E ratio of 62.05 and a beta of 0.89.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share 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%. As a group, sell-side analysts expect that SPS Commerce will post 2.73 earnings per share for the current fiscal year.

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.