Allworth Financial LP Buys 175 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Allworth Financial LP grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 296.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234 shares of the software maker’s stock after purchasing an additional 175 shares during the quarter. Allworth Financial LP’s holdings in SPS Commerce were worth $33,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its holdings in SPS Commerce by 126.3% during 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 last quarter. Hurley Capital LLC acquired a new stake in SPS Commerce in the fourth quarter valued at $41,000. Versant Capital Management Inc grew its position in shares of SPS Commerce by 4,155.6% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker’s stock valued at $51,000 after acquiring an additional 374 shares during the period. Johnson Financial Group Inc. bought a new position in shares of SPS Commerce in the 4th quarter valued at about $70,000. Finally, Harbor Investment Advisory LLC increased its stake in shares of SPS Commerce by 35.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 548 shares of the software maker’s stock worth $73,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SPSC shares. DA Davidson cut their target price on shares of SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a research note 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 research report on Friday, April 25th. Wall Street Zen upgraded SPS Commerce from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley began coverage on SPS Commerce in a report on Monday, July 14th. They set an “overweight” rating and a $180.00 target price on the stock. Finally, Robert W. Baird raised their price target on SPS Commerce from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.30.

SPS Commerce Price Performance

SPSC opened at $138.98 on Friday. The business has a fifty day simple moving average of $140.61 and a 200 day simple moving average of $147.17. SPS Commerce, Inc. has a 1 year low of $120.09 and a 1 year high of $218.61. The company has a market capitalization of $5.28 billion, a PE ratio of 64.94 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC) last posted 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 company had revenue of $181.55 million during the quarter, compared to the consensus estimate of $179.57 million. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Equities analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal 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.