Riverbridge Partners LLC Has $121.18 Million Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Riverbridge Partners LLC lowered its holdings in SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 6.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 943,523 shares of the software maker’s stock after selling 70,105 shares during the quarter. SPS Commerce accounts for about 1.8% of Riverbridge Partners LLC’s investment portfolio, making the stock its 17th largest position. Riverbridge Partners LLC owned about 2.62% of SPS Commerce worth $121,177,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ellevest Inc. lifted its position in shares of SPS Commerce by 886.2% during the 3rd quarter. Ellevest Inc. now owns 286 shares of the software maker’s stock worth $36,000 after buying an additional 257 shares during the period. Harbor Investment Advisory LLC boosted its stake in shares of SPS Commerce by 96.9% in the 3rd quarter. Harbor Investment Advisory LLC now owns 315 shares of the software maker’s stock valued at $39,000 after purchasing an additional 155 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in SPS Commerce by 28.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 496 shares of the software maker’s stock worth $62,000 after acquiring an additional 110 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in SPS Commerce during the 3rd quarter worth approximately $62,000. Finally, EverSource Wealth Advisors LLC bought a new position in SPS Commerce during the 3rd quarter worth approximately $64,000. Institutional investors and hedge funds own 99.31% of the company’s stock.

SPS Commerce Trading Down 2.4 %

Shares of SPS Commerce stock opened at $145.25 on Friday. The business’s fifty day simple moving average is $142.15 and its 200 day simple moving average is $132.32. The firm has a market capitalization of $5.27 billion, a P/E ratio of 97.48 and a beta of 0.77. SPS Commerce, Inc. has a 12 month low of $96.41 and a 12 month high of $157.46.

Insiders Place Their Bets

In other news, Director Sven Wehrwein sold 1,000 shares of SPS Commerce stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $145.37, for a total value of $145,370.00. Following the completion of the transaction, the director now directly owns 17,684 shares in the company, valued at $2,570,723.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Sven Wehrwein sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $145.37, for a total transaction of $145,370.00. Following the completion of the transaction, the director now directly owns 17,684 shares in the company, valued at $2,570,723.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kimberly K. Nelson sold 4,159 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $146.88, for a total value of $610,873.92. Following the transaction, the chief financial officer now owns 148,734 shares of the company’s stock, valued at $21,846,049.92. The disclosure for this sale can be found here. Insiders sold 137,896 shares of company stock valued at $19,541,495 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPSC. JMP Securities lifted their price objective on shares of SPS Commerce from $150.00 to $165.00 and gave the company a “market outperform” rating in a report on Friday, February 10th. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of SPS Commerce in a research report on Friday, March 3rd. Robert W. Baird cut shares of SPS Commerce from an “outperform” rating to a “neutral” rating and set a $151.00 target price on the stock. in a report on Wednesday, December 14th. Northland Securities raised their target price on shares of SPS Commerce from $148.00 to $151.00 and gave the stock a “market perform” rating in a report on Friday, February 10th. Finally, StockNews.com initiated coverage on shares of SPS Commerce in a research note on Thursday. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and a consensus price target of $156.17.

SPS Commerce Company Profile

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SPS Commerce, Inc provides cloud-based supply chain management services. The firm serves retailers, suppliers, grocers, distributors and logistics firms to orchestrate the management of item data, order fulfillment, inventory control and sales analytics across all channels. Its SPS Commerce cloud services platform offers Trading Partner Community, Fulfillment, Assortment, Analytics, Sourcing, and Other Trading Partner Solutions.