New York State Teachers Retirement System Has $3.53 Million Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

New York State Teachers Retirement System cut its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 18,199 shares of the software maker’s stock after selling 437 shares during the quarter. New York State Teachers Retirement System’s holdings in SPS Commerce were worth $3,528,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. grew its stake in SPS Commerce by 654.0% in the fourth quarter. Alliancebernstein L.P. now owns 676,583 shares of the software maker’s stock valued at $86,894,000 after acquiring an additional 586,851 shares during the period. Morgan Stanley grew its stake in SPS Commerce by 156.5% in the fourth quarter. Morgan Stanley now owns 800,226 shares of the software maker’s stock valued at $102,773,000 after acquiring an additional 488,227 shares during the period. Norges Bank acquired a new position in SPS Commerce in the fourth quarter valued at about $42,215,000. Wellington Management Group LLP grew its stake in SPS Commerce by 4,691.6% in the third quarter. Wellington Management Group LLP now owns 277,913 shares of the software maker’s stock valued at $47,415,000 after acquiring an additional 272,113 shares during the period. Finally, Comerica Bank acquired a new position in SPS Commerce in the third quarter valued at about $23,356,000. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $169.65 on Monday. SPS Commerce, Inc. has a one year low of $140.00 and a one year high of $218.74. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 96.39 and a beta of 0.79. The stock’s 50-day moving average is $183.73 and its 200-day moving average is $179.33.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. The business had revenue of $144.97 million for the quarter, compared to analyst estimates of $143.05 million. On average, equities analysts expect that SPS Commerce, Inc. will post 2.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SPSC. StockNews.com cut SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research note on Friday, February 9th. Finally, Citigroup began coverage on SPS Commerce in a report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.67.

Insider Buying and Selling

In related news, CFO Kimberly K. Nelson sold 5,965 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $183.17, for a total transaction of $1,092,609.05. Following the sale, the chief financial officer now owns 147,553 shares in the company, valued at $27,027,283.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total value of $2,310,252.49. Following the sale, the chief operating officer now owns 44,369 shares in the company, valued at $7,954,030.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kimberly K. Nelson sold 5,965 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total value of $1,092,609.05. Following the completion of the sale, the chief financial officer now owns 147,553 shares in the company, valued at approximately $27,027,283.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,688 shares of company stock worth $12,122,275. Corporate insiders own 1.00% of the company’s stock.

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.