American International Group Inc. Sells 153 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Posted by on Jun 6th, 2023

American International Group Inc. decreased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,696 shares of the software maker’s stock after selling 153 shares during the period. American International Group Inc. owned about 0.05% of SPS Commerce worth $2,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Macquarie Group Ltd. boosted its holdings in SPS Commerce by 131.8% in the 3rd quarter. Macquarie Group Ltd. now owns 280,216 shares of the software maker’s stock worth $34,878,000 after buying an additional 159,324 shares during the period. Eaton Vance Management boosted its holdings in SPS Commerce by 14,809.0% in the 1st quarter. Eaton Vance Management now owns 126,428 shares of the software maker’s stock worth $16,588,000 after buying an additional 125,580 shares during the period. Millennium Management LLC boosted its holdings in SPS Commerce by 408.8% in the 2nd quarter. Millennium Management LLC now owns 98,780 shares of the software maker’s stock worth $11,167,000 after buying an additional 79,365 shares during the period. Geneva Capital Management LLC boosted its holdings in SPS Commerce by 17.6% in the 4th quarter. Geneva Capital Management LLC now owns 447,896 shares of the software maker’s stock worth $57,523,000 after buying an additional 67,149 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in SPS Commerce by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,032,211 shares of the software maker’s stock worth $500,922,000 after buying an additional 56,939 shares during the period. Institutional investors own 99.31% of the company’s stock.

SPS Commerce Trading Up 0.6 %

Shares of NASDAQ SPSC opened at $163.69 on Tuesday. The firm’s 50-day moving average price is $153.26 and its 200-day moving average price is $143.45. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 104.93 and a beta of 0.77. SPS Commerce, Inc. has a 12-month low of $97.75 and a 12-month high of $164.69.

Analysts Set New Price Targets

Several research analysts have commented on SPSC shares. Northland Securities increased their price objective on shares of SPS Commerce from $151.00 to $154.00 in a report on Thursday, April 27th. StockNews.com started coverage on shares of SPS Commerce in a report on Thursday, May 18th. They set a “buy” rating for the company. JMP Securities increased their price objective on shares of SPS Commerce from $150.00 to $165.00 and gave the company a “market outperform” rating in a report on Friday, February 10th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price objective on shares of SPS Commerce in a report on Friday, March 3rd. Finally, Craig Hallum increased their price objective on shares of SPS Commerce from $160.00 to $165.00 in a report on Thursday, April 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.50.

Insider Activity

In other news, Director Sven Wehrwein sold 1,000 shares of the company’s 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 sale, the director now directly owns 17,684 shares in the company, valued at approximately $2,570,723.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Kimberly K. Nelson sold 5,190 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $163.39, for a total value of $847,994.10. Following the sale, the chief financial officer now directly owns 148,734 shares of the company’s stock, valued at approximately $24,301,648.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sven Wehrwein sold 1,000 shares of the stock in a transaction dated Tuesday, March 14th. The stock was 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 directly owns 17,684 shares in the company, valued at $2,570,723.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,790 shares of company stock worth $1,580,560. 1.20% of the stock is currently owned by corporate insiders.

SPS Commerce Profile

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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.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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