State Board of Administration of Florida Retirement System Sells 1,580 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

State Board of Administration of Florida Retirement System trimmed its position in SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,909 shares of the software maker’s stock after selling 1,580 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in SPS Commerce were worth $1,529,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in SPS Commerce by 0.9% in the third quarter. BlackRock Inc. now owns 5,775,824 shares of the software maker’s stock valued at $717,530,000 after acquiring an additional 49,143 shares during the last quarter. Vanguard Group Inc. increased its stake in SPS Commerce by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,032,211 shares of the software maker’s stock valued at $500,922,000 after acquiring an additional 56,939 shares during the last quarter. State Street Corp increased its stake in SPS Commerce by 0.8% in the third quarter. State Street Corp now owns 1,227,100 shares of the software maker’s stock valued at $152,443,000 after acquiring an additional 10,068 shares during the last quarter. Congress Asset Management Co. MA increased its stake in SPS Commerce by 5.4% in the third quarter. Congress Asset Management Co. MA now owns 1,006,653 shares of the software maker’s stock valued at $125,056,000 after acquiring an additional 51,388 shares during the last quarter. Finally, Eaton Vance Management increased its stake in SPS Commerce by 9.8% in the third quarter. Eaton Vance Management now owns 455,921 shares of the software maker’s stock valued at $56,639,000 after acquiring an additional 40,623 shares during the last quarter. 99.31% of the stock is owned by institutional investors.

Insider Transactions at SPS Commerce

In other news, Director Sven Wehrwein sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $145.37, for a total transaction of $145,370.00. Following the completion of the sale, the director now directly owns 17,684 shares of the company’s stock, valued at $2,570,723.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other SPS Commerce news, CFO Kimberly K. Nelson sold 1,140 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $152.23, for a total value of $173,542.20. Following the completion of the sale, the chief financial officer now directly owns 152,893 shares of the company’s stock, valued at approximately $23,274,901.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sven Wehrwein sold 1,000 shares of the company’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 sale, the director now directly owns 17,684 shares of the company’s stock, valued at $2,570,723.08. The disclosure for this sale can be found here. Insiders sold a total of 50,309 shares of company stock valued at $7,507,062 over the last three months. Corporate insiders own 1.20% of the company’s stock.

SPS Commerce Trading Up 0.0 %

SPSC opened at $155.72 on Monday. SPS Commerce, Inc. has a 1-year low of $96.41 and a 1-year high of $159.65. The company has a market cap of $5.69 billion, a P/E ratio of 99.82 and a beta of 0.78. The company has a fifty day moving average price of $148.92 and a two-hundred day moving average price of $139.72.

SPS Commerce (NASDAQ:SPSC – Get Rating) last posted its earnings results on Thursday, February 9th. The software maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.37 by $0.11. The company had revenue of $122.02 million during the quarter, compared to the consensus estimate of $120.67 million. SPS Commerce had a net margin of 12.26% and a return on equity of 12.78%. On average, research analysts forecast that SPS Commerce, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on SPSC shares. JMP Securities boosted their target price on shares of SPS Commerce from $150.00 to $165.00 and gave the stock a “market outperform” rating in a research note on Friday, February 10th. Northland Securities boosted their target price on shares of SPS Commerce from $151.00 to $154.00 in a research note on Thursday, April 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of SPS Commerce in a research note on Friday, March 3rd. StockNews.com started coverage on shares of SPS Commerce in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Craig Hallum boosted their target price on shares of SPS Commerce from $160.00 to $165.00 in a research note on Thursday, April 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.50.

SPS Commerce 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.