SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in SPS Commerce, Inc. (NASDAQ:SPSC) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,601,019 shares of the software maker’s stock after selling 29,840 shares during the period. Vanguard Group Inc. owned 12.12% of SPS Commerce worth $610,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC raised its position in shares of SPS Commerce by 0.9% in 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 buying an additional 11,590 shares during the last quarter. Ameriprise Financial Inc. raised 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 valued at $140,882,000 after buying an additional 191,740 shares during the last quarter. Northern Trust Corp raised 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 valued at $93,842,000 after buying an additional 51,839 shares during the last quarter. Fred Alger Management LLC raised its position in shares of SPS Commerce by 5.6% in the fourth quarter. Fred Alger Management LLC now owns 481,317 shares of the software maker’s stock valued at $88,558,000 after buying an additional 25,414 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of SPS Commerce by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 424,796 shares of the software maker’s stock valued at $78,159,000 after buying an additional 11,506 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPSC has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 target price for the company. Needham & Company LLC cut their price objective on shares of SPS Commerce from $210.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Loop Capital cut shares of SPS Commerce from a “buy” rating to a “hold” rating and cut their price objective for the stock from $175.00 to $120.00 in a research report on Thursday, July 31st. Finally, DA Davidson cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating and cut their price objective for the stock from $175.00 to $125.00 in a research report on Thursday, July 31st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.80.

SPS Commerce Price Performance

Shares of SPSC opened at $115.35 on Thursday. SPS Commerce, Inc. has a 1-year low of $102.05 and a 1-year high of $203.86. The stock has a market cap of $4.37 billion, a PE ratio of 52.91 and a beta of 0.71. The firm has a 50-day simple moving average of $131.97 and a two-hundred day simple moving average of $139.07.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.10. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The business had revenue of $187.40 million during the quarter, compared to analysts’ expectations of $185.88 million. During the same period last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, sell-side analysts expect 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.