Harbor Capital Advisors Inc. Reduces Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Harbor Capital Advisors Inc. decreased its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 67.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 334 shares of the software maker’s stock after selling 706 shares during the period. Harbor Capital Advisors Inc.’s holdings in SPS Commerce were worth $44,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in SPS Commerce by 35.7% in the 4th quarter. Van ECK Associates Corp now owns 29,919 shares of the software maker’s stock worth $5,505,000 after acquiring an additional 7,871 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of SPS Commerce during the fourth quarter worth about $628,000. Blue Trust Inc. grew its stake in shares of SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after purchasing an additional 84 shares during the last quarter. Rhumbline Advisers increased its holdings in SPS Commerce by 1.0% during the 4th quarter. Rhumbline Advisers now owns 103,730 shares of the software maker’s stock valued at $19,085,000 after purchasing an additional 1,029 shares during the period. Finally, Principal Securities Inc. increased its holdings in SPS Commerce by 16.0% during the 4th quarter. Principal Securities Inc. now owns 1,648 shares of the software maker’s stock valued at $303,000 after purchasing an additional 227 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson dropped their price objective on SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a report on Monday, April 14th. Cantor Fitzgerald started coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of SPS Commerce in a report on Friday, April 25th. Finally, Robert W. Baird upped their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.56.

SPS Commerce Stock Down 2.2%

SPSC opened at $134.80 on Monday. SPS Commerce, Inc. has a 52 week low of $120.09 and a 52 week high of $218.61. The stock has a market cap of $5.12 billion, a PE ratio of 66.08 and a beta of 0.73. The business has a 50 day moving average of $140.03 and a 200-day moving average of $156.12.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The business had revenue of $181.55 million during the quarter, compared to analyst estimates of $179.57 million. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. Equities analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current year.

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.