Arcadia Investment Management Corp MI Lowers Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Arcadia Investment Management Corp MI lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 298 shares of the software maker’s stock after selling 158 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in SPS Commerce were worth $58,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position 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 purchasing an additional 272,113 shares during the period. Comerica Bank purchased a new stake in shares of SPS Commerce in the third quarter valued at approximately $23,356,000. Ameriprise Financial Inc. grew its holdings in SPS Commerce by 27.6% during the third quarter. Ameriprise Financial Inc. now owns 594,624 shares of the software maker’s stock worth $101,449,000 after acquiring an additional 128,788 shares during the period. Charles Schwab Investment Management Inc. raised its position in SPS Commerce by 38.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 419,612 shares of the software maker’s stock worth $71,590,000 after acquiring an additional 115,522 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in SPS Commerce by 102.8% in the third quarter. Lord Abbett & CO. LLC now owns 184,992 shares of the software maker’s stock valued at $31,562,000 after acquiring an additional 93,795 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPSC. Robert W. Baird upped their price target on SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research note on Friday, April 26th. William Blair reissued a “market perform” rating on shares of SPS Commerce in a research note on Thursday, April 25th. Finally, Citigroup initiated coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They set a “buy” rating and a $216.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $196.57.

SPS Commerce Trading Up 2.9 %

Shares of SPS Commerce stock traded up $5.39 during trading hours on Thursday, reaching $193.52. The stock had a trading volume of 167,604 shares, compared to its average volume of 181,142. The firm has a 50 day simple moving average of $178.84 and a two-hundred day simple moving average of $180.10. SPS Commerce, Inc. has a 1 year low of $151.63 and a 1 year high of $218.74. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 105.75 and a beta of 0.81.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $144.97 million for the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. Sell-side analysts forecast that SPS Commerce, Inc. will post 2.23 EPS for the current year.

Insider Activity

In other SPS Commerce news, CFO Kimberly K. Nelson sold 5,965 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 147,553 shares of the company’s stock, valued at approximately $27,027,283.01. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the sale, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kimberly K. Nelson sold 5,965 shares of the business’s stock in a transaction dated 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 directly owns 147,553 shares of the company’s stock, valued at $27,027,283.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,019 shares of company stock worth $5,186,345. 1.00% of the stock is currently owned by corporate insiders.

SPS Commerce Company Profile

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.