Lannebo Fonder AB Lowers Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Lannebo Fonder AB lessened its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 30.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,042 shares of the software maker’s stock after selling 6,958 shares during the quarter. SPS Commerce accounts for approximately 0.4% of Lannebo Fonder AB’s holdings, making the stock its 25th biggest position. Lannebo Fonder AB’s holdings in SPS Commerce were worth $3,084,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SPSC. Pacer Advisors Inc. bought a new stake in SPS Commerce in the 2nd quarter worth about $27,000. Belpointe Asset Management LLC bought a new stake in SPS Commerce in the 4th quarter worth about $31,000. Ronald Blue Trust Inc. grew its stake in shares of SPS Commerce by 1,792.3% during the 1st quarter. Ronald Blue Trust Inc. now owns 246 shares of the software maker’s stock valued at $32,000 after purchasing an additional 233 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of SPS Commerce during the 1st quarter valued at about $32,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of SPS Commerce by 74.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 270 shares of the software maker’s stock valued at $41,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of SPSC stock traded down $2.14 during trading hours on Tuesday, reaching $174.72. 18,963 shares of the company traded hands, compared to its average volume of 162,837. SPS Commerce, Inc. has a 12-month low of $114.71 and a 12-month high of $196.39. The company has a market cap of $6.40 billion, a P/E ratio of 106.54 and a beta of 0.78. The firm has a 50-day moving average price of $178.02 and a 200 day moving average price of $166.21.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. SPS Commerce had a return on equity of 12.55% and a net margin of 12.53%. The firm had revenue of $130.42 million for the quarter, compared to analysts’ expectations of $128.50 million. Sell-side analysts predict that SPS Commerce, Inc. will post 1.79 EPS for the current year.

Insider Buying and Selling

In related news, Director Sven Wehrwein sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $170.03, for a total value of $170,030.00. Following the transaction, the director now directly owns 17,387 shares of the company’s stock, valued at approximately $2,956,311.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on SPSC. Needham & Company LLC restated a “buy” rating and set a $205.00 price target on shares of SPS Commerce in a research note on Tuesday. Stifel Nicolaus boosted their price target on SPS Commerce from $165.00 to $200.00 in a research note on Friday, July 7th. Craig Hallum boosted their price target on SPS Commerce from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Northland Securities boosted their price target on SPS Commerce from $151.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on SPS Commerce in a research note on Thursday, August 17th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, SPS Commerce currently has an average rating of “Moderate Buy” and an average price target of $182.67.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.