SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,576 shares of the software maker’s stock after selling 525 shares during the period. Victory Capital Management Inc.’s holdings in SPS Commerce were worth $1,536,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SPSC. MassMutual Private Wealth & Trust FSB lifted 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 valued at $30,000 after purchasing an additional 125 shares during the period. Allworth Financial LP lifted its position in SPS Commerce by 296.6% in the first quarter. Allworth Financial LP now owns 234 shares of the software maker’s stock valued at $33,000 after purchasing an additional 175 shares during the period. Hurley Capital LLC acquired a new stake in SPS Commerce in the fourth quarter valued at about $41,000. Versant Capital Management Inc lifted 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 valued at $51,000 after purchasing an additional 374 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in SPS Commerce in the fourth quarter valued at about $70,000. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Price Performance

Shares of SPSC opened at $140.10 on Wednesday. The firm has a 50 day simple moving average of $138.97 and a 200-day simple moving average of $144.75. SPS Commerce, Inc. has a 1-year low of $120.08 and a 1-year high of $218.61. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 65.47 and a beta of 0.71.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of SPS Commerce in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 target price for the company. Wall Street Zen raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Morgan Stanley assumed coverage on shares of SPS Commerce in a report on Monday, July 14th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, Robert W. Baird increased their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

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.