Envestnet Asset Management Inc. Trims Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Envestnet Asset Management Inc. cut its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,040 shares of the software maker’s stock after selling 10,149 shares during the quarter. Envestnet Asset Management Inc. owned 0.54% of SPS Commerce worth $27,215,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPSC. MassMutual Private Wealth & Trust FSB increased its position in SPS Commerce by 126.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker’s stock worth $30,000 after buying an additional 125 shares during the period. Hurley Capital LLC acquired a new stake in SPS Commerce in the fourth quarter worth $41,000. Versant Capital Management Inc increased its position in SPS Commerce by 4,155.6% in the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker’s stock worth $51,000 after buying an additional 374 shares during the period. Johnson Financial Group Inc. acquired a new stake in SPS Commerce in the fourth quarter worth $70,000. Finally, Harbor Investment Advisory LLC increased its position in SPS Commerce by 35.6% in the first quarter. Harbor Investment Advisory LLC now owns 548 shares of the software maker’s stock worth $73,000 after buying an additional 144 shares during the period. 98.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPSC has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on SPS Commerce in a research report on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 target price on the stock. Robert W. Baird increased their target price on SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. DA Davidson lowered their price target on SPS Commerce from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of SPS Commerce in a report on Friday, April 25th. Finally, Morgan Stanley initiated coverage on shares of SPS Commerce in a research note on Monday. They set an “overweight” rating and a $180.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.30.

SPS Commerce Trading Up 6.9%

NASDAQ:SPSC opened at $140.88 on Tuesday. The company has a 50-day moving average of $140.96 and a 200-day moving average of $148.20. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 65.83 and a beta of 0.71. SPS Commerce, Inc. has a twelve month low of $120.09 and a twelve month high of $218.61.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.15. The firm had revenue of $181.55 million during the quarter, compared to analysts’ expectations of $179.57 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

About SPS Commerce

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.