SPS Commerce (NASDAQ:SPSC) EVP Jamie Thingelstad Sells 11,196 Shares of Company Stock

SPS Commerce, Inc. (NASDAQ:SPSC) EVP Jamie Thingelstad sold 11,196 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $81.59, for a total transaction of $913,481.64. Following the transaction, the executive vice president directly owned 95,777 shares of the company’s stock, valued at approximately $7,814,445.43. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SPS Commerce Stock Performance

SPSC opened at $80.92 on Wednesday. The company has a 50-day moving average of $83.46 and a 200-day moving average of $68.13. The company has a market capitalization of $2.87 billion, a P/E ratio of 22.89 and a beta of 0.66. SPS Commerce, Inc. has a 1-year low of $49.04 and a 1-year high of $96.54.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 29th. The software maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. SPS Commerce had a net margin of 10.65% and a return on equity of 13.72%. The business had revenue of $197.65 million for the quarter, compared to analysts’ expectations of $197.51 million. During the same quarter last year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that SPS Commerce, Inc. will post 3.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on SPSC. Citigroup reiterated a “buy” rating and issued a $99.00 target price (up from $82.00) on shares of SPS Commerce in a research report on Tuesday, October 20th. Wall Street Zen upgraded SPS Commerce from a “hold” rating to a “buy” rating in a report on Sunday, October 25th. Morgan Stanley reissued an “underweight” rating and set a $74.00 price target on shares of SPS Commerce in a research report on Monday, October 26th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target (up from $75.00) on shares of SPS Commerce in a research report on Wednesday, August 19th. Finally, DA Davidson raised their price objective on SPS Commerce from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SPS Commerce has an average rating of “Hold” and a consensus target price of $79.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. bought a new position in SPS Commerce in the 3rd quarter worth about $1,287,000. Global Retirement Partners LLC grew its position in SPS Commerce by 342.4% in the 3rd quarter. Global Retirement Partners LLC now owns 1,075 shares of the software maker’s stock valued at $89,000 after buying an additional 832 shares in the last quarter. South Dakota Investment Council increased its stake in SPS Commerce by 2,231.1% during the 3rd quarter. South Dakota Investment Council now owns 111,892 shares of the software maker’s stock valued at $9,224,000 after buying an additional 107,092 shares during the period. Rothschild Investment LLC increased its stake in SPS Commerce by 1,618.6% during the 3rd quarter. Rothschild Investment LLC now owns 4,520 shares of the software maker’s stock valued at $373,000 after buying an additional 4,257 shares during the period. Finally, Bessemer Group Inc. increased its stake in SPS Commerce by 540.5% during the 3rd quarter. Bessemer Group Inc. now owns 766,101 shares of the software maker’s stock valued at $63,157,000 after buying an additional 646,483 shares during the period. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Company Profile

SPS Commerce provides cloud-based supply chain management software and services, with a focus on helping retailers, suppliers, distributors and logistics providers exchange business information and coordinate transactions. Its platform connects trading partners and supports electronic data interchange (EDI), order processing and fulfillment workflows. The company also offers tools for supply chain analytics and product information management, along with implementation and ongoing support services.