Federated Hermes Inc. Cuts Stock Position in SPS Commerce, Inc. $SPSC

Federated Hermes Inc. lessened its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 99.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 636 shares of the software maker’s stock after selling 106,239 shares during the quarter. Federated Hermes Inc.’s holdings in SPS Commerce were worth $66,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SPSC. Advisors Asset Management Inc. lifted its holdings in SPS Commerce by 39.9% during the 1st quarter. Advisors Asset Management Inc. now owns 393 shares of the software maker’s stock worth $52,000 after buying an additional 112 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of SPS Commerce by 2.0% in the first quarter. AQR Capital Management LLC now owns 14,134 shares of the software maker’s stock worth $1,876,000 after acquiring an additional 275 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of SPS Commerce by 545.7% during the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker’s stock worth $30,000 after acquiring an additional 191 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of SPS Commerce by 12.8% in the second quarter. Janney Montgomery Scott LLC now owns 1,980 shares of the software maker’s stock valued at $269,000 after acquiring an additional 224 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in SPS Commerce by 2.6% in the second quarter. KLP Kapitalforvaltning AS now owns 7,900 shares of the software maker’s stock valued at $1,075,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $75.48 on Tuesday. The company’s fifty day moving average price is $88.60 and its 200 day moving average price is $98.37. SPS Commerce, Inc. has a 12 month low of $73.05 and a 12 month high of $180.88. The firm has a market capitalization of $2.85 billion, a P/E ratio of 33.85 and a beta of 0.56.

Insider Activity at SPS Commerce

In other news, Director Marty M. Reaume sold 1,732 shares of SPS Commerce stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $92.26, for a total transaction of $159,794.32. Following the sale, the director owned 9,158 shares in the company, valued at approximately $844,917.08. The trade was a 15.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SPSC. Northland Securities set a $109.00 price target on SPS Commerce in a report on Friday, October 31st. Cantor Fitzgerald lowered shares of SPS Commerce from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $80.00 in a research note on Friday, October 31st. Robert W. Baird set a $104.00 target price on shares of SPS Commerce in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of SPS Commerce in a report on Thursday, January 22nd. Finally, Citigroup dropped their price objective on shares of SPS Commerce from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $106.80.

SPS Commerce Company Profile

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company’s platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.