SPS Commerce Inc (NASDAQ:SPSC) has reported a series of transactions by executive Philip Soran, who sold a total of $1,332,544 worth of company stock, according to the latest SEC filings. The sales occurred on July 12, 15, and 16, with prices per share ranging between $200.0564 and $206.4932.
The transactions began on July 12, when Soran sold 3,285 shares at a weighted average price of $200.0564, followed by sales of 895 shares at an average of $205.052 on July 15, and a combined sale of 2,390 shares at prices ranging between $205.483 and $206.4932 on July 16. The total shares sold across these dates amounted to 6,570 shares of common stock.
In addition to the sales, Soran also engaged in acquiring shares through the exercise of employee stock options, fully vested, with an exercise price of $37.22 per share. On July 12, he exercised options for 3,285 shares, followed by 895 shares on July 15, and 2,390 shares on July 16, totaling an acquisition of $244,535 worth of stock at the exercise price.
Following these transactions, the updated ownership for Soran stands at 18,852 shares of common stock in SPS Commerce, reflecting his continued investment in the company despite the recent sale.
Investors and stakeholders of SPS Commerce often monitor such filings to gauge insider sentiment and financial moves within the company's leadership. The transactions by Soran, who serves as a director of the company, are part of the routine disclosures required by the SEC for insider activities.
SPS Commerce specializes in prepackaged software services and has a corporate presence in Minneapolis, Minnesota. The company's stock performance and insider transactions are closely watched by the market for indications of the company's financial health and executive confidence in the firm's prospects.
In other recent news, SPS Commerce, a retail supply chain cloud services provider, has acquired Traverse Systems, a SaaS platform known for its supply chain performance solutions. This acquisition, valued at approximately $29.3 million, is expected to contribute approximately $600,000 in revenue for the second quarter of 2024, and $2.9 million for the fiscal year 2024. Additionally, SPS Commerce has reported robust growth in the first quarter of 2024, with a 19% increase in revenue to $149.6 million. The company has provided Q2 revenue guidance of $150.9 million to $151.7 million and full-year revenue guidance of $619.9 million to $621.9 million. In terms of future expectations, SPS Commerce anticipates a 16% year-over-year growth in Q2 and 15% to 16% growth for the full year 2024. These recent developments indicate a strong performance and a positive outlook for the company.
InvestingPro Insights
In light of the recent insider transactions at SPS Commerce Inc (NASDAQ:SPSC), it's worth noting some key financial metrics and market indicators from InvestingPro. The company boasts a robust market capitalization of $7.76 billion USD and is trading at a high earnings multiple, with a P/E ratio of 112.61. This is slightly above the adjusted P/E ratio for the last twelve months as of Q1 2024, which stands at 113.15, indicating a premium valuation of the company's earnings.
InvestingPro Tips highlight that SPS Commerce is currently trading at a high Price / Book multiple of 11.36, which could suggest that the stock is valued richly compared to the company's book value. Additionally, the company has experienced significant returns, with a 1 week price total return of 12.63% and a 3 month price total return of 28.2%, reflecting strong market performance in the short term.
For investors looking to delve deeper into SPS Commerce's financials and market projections, there are additional tips available on InvestingPro. Interested readers can find a more comprehensive analysis, including insights on the company's debt levels and liquidity, by visiting InvestingPro's dedicated page for SPS Commerce at https://www.investing.com/pro/SPSC. Moreover, for those considering an InvestingPro subscription, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
With 19 additional InvestingPro Tips available, subscribers can gain an enhanced understanding of SPS Commerce's financial health and make more informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.