Avantax Advisory Services Inc. Trims Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Avantax Advisory Services Inc. decreased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,443 shares of the software maker’s stock after selling 263 shares during the period. Avantax Advisory Services Inc.’s holdings in SPS Commerce were worth $988,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SPSC. Bank of New York Mellon Corp increased its holdings in SPS Commerce by 11.8% during the 1st quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker’s stock worth $43,991,000 after acquiring an additional 34,859 shares during the period. KBC Group NV increased its holdings in SPS Commerce by 8.1% during the 1st quarter. KBC Group NV now owns 1,651 shares of the software maker’s stock worth $219,000 after acquiring an additional 124 shares during the period. SG Americas Securities LLC bought a new stake in SPS Commerce during the 1st quarter worth approximately $1,045,000. First Trust Advisors LP increased its holdings in SPS Commerce by 202.0% during the 4th quarter. First Trust Advisors LP now owns 5,683 shares of the software maker’s stock worth $1,046,000 after acquiring an additional 3,801 shares during the period. Finally, LPL Financial LLC increased its holdings in SPS Commerce by 13.0% during the 4th quarter. LPL Financial LLC now owns 46,561 shares of the software maker’s stock worth $8,674,000 after acquiring an additional 5,353 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SPSC shares. DA Davidson lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating and decreased their target price for the stock from $175.00 to $125.00 in a report on Thursday. Loop Capital lowered shares of SPS Commerce from a “buy” rating to a “hold” rating and decreased their target price for the stock from $175.00 to $120.00 in a report on Thursday. Cantor Fitzgerald initiated coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They set an “overweight” rating and a $170.00 target price on the stock. Wall Street Zen raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Needham & Company LLC cut their price target on shares of SPS Commerce from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, SPS Commerce has a consensus rating of “Moderate Buy” and an average price target of $165.80.

SPS Commerce Stock Performance

Shares of SPSC opened at $103.88 on Friday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 47.65 and a beta of 0.71. SPS Commerce, Inc. has a fifty-two week low of $103.18 and a fifty-two week high of $204.21. The firm has a 50 day moving average price of $137.36 and a 200-day moving average price of $143.38.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.10. The firm had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. As a group, equities research analysts predict 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.