BlackRock Inc. Sells 53,713 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

BlackRock Inc. trimmed its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,710,970 shares of the software maker’s stock after selling 53,713 shares during the quarter. BlackRock Inc. owned about 15.13% of SPS Commerce worth $287,527,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Enlightenment Research LLC acquired a new stake in shares of SPS Commerce in the 4th quarter valued at approximately $25,000. JNBA Financial Advisors acquired a new stake in shares of SPS Commerce in the 4th quarter valued at approximately $41,000. Public Employees Retirement System of Ohio acquired a new stake in shares of SPS Commerce in the 4th quarter valued at approximately $55,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of SPS Commerce in the 4th quarter valued at approximately $74,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of SPS Commerce by 378.9% in the 1st quarter. Meeder Asset Management Inc. now owns 704 shares of the software maker’s stock valued at $75,000 after purchasing an additional 557 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:SPSC traded down $1.30 during mid-day trading on Friday, hitting $102.37. The company had a trading volume of 90,985 shares, compared to its average volume of 137,252. The company has a fifty day moving average of $104.02. The firm has a market capitalization of $1.83 billion, a P/E ratio of 83.91, a PEG ratio of 4.26 and a beta of 0.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.82 and a quick ratio of 4.82. SPS Commerce, Inc. has a one year low of $75.37 and a one year high of $115.00.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, April 25th. The software maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.30. The company had revenue of $66.93 million during the quarter, compared to analyst estimates of $66.16 million. SPS Commerce had a net margin of 10.71% and a return on equity of 8.67%. SPS Commerce’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. On average, equities research analysts predict that SPS Commerce, Inc. will post 1.6 earnings per share for the current year.

Several research firms recently commented on SPSC. Zacks Investment Research downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. BidaskClub downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Benchmark reiterated a “buy” rating and set a $120.00 target price (up from $110.00) on shares of SPS Commerce in a research report on Thursday, May 2nd. JMP Securities lifted their target price on shares of SPS Commerce from $98.00 to $120.00 and gave the stock a “market outperform” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 price target (up previously from $110.00) on shares of SPS Commerce in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $110.58.

In other SPS Commerce news, Director Philip Soran sold 600 shares of SPS Commerce stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.62, for a total transaction of $65,772.00. Following the transaction, the director now directly owns 8,508 shares of the company’s stock, valued at approximately $932,646.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Archie C. Black sold 8,645 shares of SPS Commerce stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $104.23, for a total transaction of $901,068.35. Following the transaction, the chief executive officer now directly owns 86,989 shares in the company, valued at $9,066,863.47. The disclosure for this sale can be found here. Insiders have sold a total of 38,949 shares of company stock valued at $4,100,372 in the last 90 days. 3.34% of the stock is currently owned by company insiders.

SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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