LPL Financial LLC Buys 3,454 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

LPL Financial LLC grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 7.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,015 shares of the software maker’s stock after buying an additional 3,454 shares during the quarter. LPL Financial LLC owned approximately 0.13% of SPS Commerce worth $6,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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. Allworth Financial LP grew its stake in shares of SPS Commerce by 296.6% in the first quarter. Allworth Financial LP now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 175 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of SPS Commerce in the fourth quarter worth $70,000. Versant Capital Management Inc grew its stake in shares of 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 purchasing an additional 374 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in shares of 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 purchasing an additional 144 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Needham & Company LLC reduced their price objective on shares of SPS Commerce from $210.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 price objective on the stock. Loop Capital cut shares of SPS Commerce from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $175.00 to $120.00 in a research note on Thursday, July 31st. Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $175.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Finally, Robert W. Baird boosted their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average price target of $165.80.

SPS Commerce Stock Down 1.5%

SPSC stock opened at $104.67 on Tuesday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 48.01 and a beta of 0.71. SPS Commerce, Inc. has a 12-month low of $102.05 and a 12-month high of $203.86. The company’s fifty day simple moving average is $133.24 and its 200 day simple moving average is $139.45.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.10. The business had revenue of $187.40 million for 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%. SPS Commerce’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. Research analysts expect 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.