Townsquare Capital LLC Lowers Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Townsquare Capital LLC reduced its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,348 shares of the software maker’s stock after selling 928 shares during the period. Townsquare Capital LLC’s holdings in SPS Commerce were worth $11,135,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SPSC. FMR LLC lifted its position in shares of SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after buying an additional 104,769 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of SPS Commerce by 2,099.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after buying an additional 92,381 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of SPS Commerce during the 3rd quarter valued at about $17,128,000. Assenagon Asset Management S.A. lifted its position in shares of SPS Commerce by 662.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock valued at $17,065,000 after buying an additional 78,805 shares in the last quarter. Finally, F M Investments LLC purchased a new position in SPS Commerce in the 2nd quarter worth approximately $13,869,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Down 0.4 %

Shares of SPS Commerce stock opened at $192.57 on Thursday. The stock’s fifty day moving average is $186.67 and its two-hundred day moving average is $191.26. The company has a market capitalization of $7.23 billion, a PE ratio of 92.14 and a beta of 0.84. SPS Commerce, Inc. has a 52 week low of $160.58 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.39 earnings per share for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on SPS Commerce in a report on Monday. They issued a “neutral” rating and a $198.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Robert W. Baird boosted their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Stifel Nicolaus boosted their price target on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and an average target price of $220.78.

About SPS Commerce

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.