New York State Common Retirement Fund Has $4.11 Million Stock Holdings in SPS Commerce, Inc. $SPSC

New York State Common Retirement Fund trimmed its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 66.1% during the third quarter, HoldingsChannel.com reports. The fund owned 39,417 shares of the software maker’s stock after selling 76,944 shares during the quarter. New York State Common Retirement Fund’s holdings in SPS Commerce were worth $4,105,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SPSC. Nordea Investment Management AB increased its stake in shares of SPS Commerce by 505.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,330,237 shares of the software maker’s stock valued at $177,587,000 after purchasing an additional 1,110,476 shares during the last quarter. Norges Bank bought a new stake in shares of SPS Commerce during the 2nd quarter worth $57,540,000. Disciplined Growth Investors Inc. MN boosted its stake in SPS Commerce by 188.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 425,126 shares of the software maker’s stock valued at $57,855,000 after buying an additional 277,499 shares in the last quarter. Walleye Capital LLC bought a new position in SPS Commerce in the second quarter valued at about $20,250,000. Finally, Tran Capital Management L.P. acquired a new position in SPS Commerce during the third quarter worth about $15,370,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $79.53 on Friday. The firm has a 50 day moving average price of $88.71 and a two-hundred day moving average price of $99.37. The stock has a market cap of $3.00 billion, a P/E ratio of 35.66 and a beta of 0.56. SPS Commerce, Inc. has a 52-week low of $73.05 and a 52-week high of $181.73.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective (down from $160.00) on shares of SPS Commerce in a research report on Friday, October 31st. Robert W. Baird set a $104.00 target price on shares of SPS Commerce in a research report on Friday, October 31st. Stifel Nicolaus reaffirmed a “hold” rating and set a $80.00 target price (down previously from $150.00) on shares of SPS Commerce in a research note on Friday, October 31st. Finally, Citigroup lowered their price target on shares of SPS Commerce from $145.00 to $110.00 and set a “buy” rating for the company in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, SPS Commerce has a consensus rating of “Hold” and an average price target of $106.80.

Insider Transactions at SPS Commerce

In related news, Director Marty M. Reaume sold 1,732 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $92.26, for a total transaction of $159,794.32. Following the completion of the transaction, the director directly owned 9,158 shares of the company’s stock, valued at $844,917.08. This trade represents a 15.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

About SPS Commerce

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.