SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,927 shares of the software maker’s stock after selling 274 shares during the period. M&T Bank Corp’s holdings in SPS Commerce were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in SPS Commerce by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker’s stock valued at $852,032,000 after acquiring an additional 67,687 shares in the last quarter. FMR LLC grew its holdings in shares of SPS Commerce by 109.7% during the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker’s stock valued at $261,235,000 after buying an additional 742,686 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in SPS Commerce by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker’s stock valued at $167,264,000 after purchasing an additional 11,590 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of SPS Commerce by 33.4% in the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker’s stock worth $140,882,000 after buying an additional 191,740 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of SPS Commerce by 11.3% in the fourth quarter. Northern Trust Corp now owns 510,041 shares of the software maker’s stock worth $93,842,000 after buying an additional 51,839 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of SPSC opened at $138.11 on Wednesday. The firm has a 50 day simple moving average of $140.80 and a two-hundred day simple moving average of $147.82. The company has a market cap of $5.25 billion, a P/E ratio of 64.54 and a beta of 0.71. SPS Commerce, Inc. has a one year low of $120.09 and a one year high of $218.61.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The company had revenue of $181.55 million for the quarter, compared to analysts’ expectations of $179.57 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. SPS Commerce’s quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.