Citigroup Inc. Sells 923 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Citigroup Inc. trimmed its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,574 shares of the software maker’s stock after selling 923 shares during the quarter. Citigroup Inc.’s holdings in SPS Commerce were worth $4,055,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SPSC. Belpointe Asset Management LLC purchased a new position in shares of SPS Commerce during the fourth quarter valued at approximately $31,000. Ellevest Inc. lifted its holdings in shares of SPS Commerce by 886.2% during the third quarter. Ellevest Inc. now owns 286 shares of the software maker’s stock valued at $36,000 after purchasing an additional 257 shares during the last quarter. CWM LLC lifted its holdings in shares of SPS Commerce by 40.8% during the fourth quarter. CWM LLC now owns 314 shares of the software maker’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of SPS Commerce during the third quarter valued at approximately $64,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of SPS Commerce by 440.6% during the third quarter. Quadrant Capital Group LLC now owns 865 shares of the software maker’s stock valued at $107,000 after purchasing an additional 705 shares during the last quarter. 99.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Northland Securities boosted their price objective on shares of SPS Commerce from $151.00 to $154.00 in a report on Thursday, April 27th. 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. Needham & Company LLC reiterated 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 initiated coverage on shares of SPS Commerce in a research note on Thursday. They set a “buy” rating for the company. Finally, JMP Securities boosted their target price on shares of SPS Commerce from $150.00 to $165.00 and gave the company a “market outperform” rating in a research note on Friday, February 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.50.

Insider Buying and Selling

In other SPS Commerce news, Director Sven Wehrwein sold 1,000 shares of the 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 transaction, the director now owns 17,684 shares of the company’s stock, valued at approximately $2,570,723.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SPS Commerce news, CEO Archie C. Black sold 17,648 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $147.23, for a total value of $2,598,315.04. Following the completion of the sale, the chief executive officer now directly owns 60,068 shares in the company, valued at $8,843,811.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sven Wehrwein sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 owns 17,684 shares of the company’s stock, valued at $2,570,723.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,145 shares of company stock valued at $3,992,158. Company insiders own 1.20% of the company’s stock.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $160.12 on Monday. The company has a market capitalization of $5.85 billion, a P/E ratio of 102.64 and a beta of 0.78. The company has a fifty day moving average of $150.12 and a 200 day moving average of $140.82. SPS Commerce, Inc. has a fifty-two week low of $96.56 and a fifty-two week high of $160.96.

About SPS Commerce

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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.