Laurus Investment Counsel Inc. Sells 5,070 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Laurus Investment Counsel Inc. lowered its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 40.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,340 shares of the software maker’s stock after selling 5,070 shares during the quarter. Laurus Investment Counsel Inc.’s holdings in SPS Commerce were worth $1,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC acquired a new stake in SPS Commerce in the 3rd quarter valued at approximately $319,000. Creative Planning grew its holdings in shares of SPS Commerce by 13.6% during the 3rd quarter. Creative Planning now owns 10,069 shares of the software maker’s stock worth $1,955,000 after purchasing an additional 1,204 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of SPS Commerce by 63.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 659 shares of the software maker’s stock worth $128,000 after purchasing an additional 255 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of SPS Commerce by 13.8% during the 3rd quarter. Inspire Investing LLC now owns 2,131 shares of the software maker’s stock worth $414,000 after purchasing an additional 258 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of SPS Commerce by 50.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,180 shares of the software maker’s stock worth $229,000 after purchasing an additional 395 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Stock Down 0.2 %

SPSC traded down $0.36 during trading on Friday, hitting $193.97. The company’s stock had a trading volume of 18,521 shares, compared to its average volume of 177,142. The firm’s 50 day moving average price is $193.70 and its two-hundred day moving average price is $190.08. SPS Commerce, Inc. has a 12 month low of $151.96 and a 12 month high of $218.74. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 101.60 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, sell-side analysts forecast that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

Insider Transactions at SPS Commerce

In other news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the sale, the director now owns 16,212 shares in the company, valued at $3,264,286.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPSC. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Robert W. Baird lifted their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Stifel Nicolaus raised their target price on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Craig Hallum raised their target price on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.25.

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.