Charles Schwab Investment Management Inc. Purchases 2,238 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Charles Schwab Investment Management Inc. lifted its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 483,654 shares of the software maker’s stock after purchasing an additional 2,238 shares during the period. Charles Schwab Investment Management Inc. owned 1.27% of SPS Commerce worth $64,195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPSC. Bank of New York Mellon Corp boosted its stake in shares of SPS Commerce by 11.8% in 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 buying an additional 34,859 shares during the last quarter. KBC Group NV boosted its position in SPS Commerce by 8.1% in the first quarter. KBC Group NV now owns 1,651 shares of the software maker’s stock worth $219,000 after purchasing an additional 124 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of SPS Commerce during the 1st quarter valued at $1,045,000. First Trust Advisors LP raised its stake in shares of 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 purchasing an additional 3,801 shares during the period. Finally, LPL Financial LLC raised its stake in shares of SPS Commerce by 7.4% during the 1st quarter. LPL Financial LLC now owns 50,015 shares of the software maker’s stock worth $6,487,000 after purchasing an additional 3,454 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $113.54 on Friday. SPS Commerce, Inc. has a fifty-two week low of $102.05 and a fifty-two week high of $203.86. The stock has a market cap of $4.30 billion, a PE ratio of 52.08 and a beta of 0.71. The stock has a fifty day moving average of $131.40 and a 200-day moving average of $138.52.

SPS Commerce (NASDAQ:SPSC) last posted its 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 return on equity of 12.10% and a net margin of 11.79%. The business had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. During the same quarter in the previous year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, sell-side analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

SPSC has been the subject of several research reports. Morgan Stanley reduced their price target on shares of SPS Commerce from $180.00 to $170.00 and set an “overweight” 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 note on Friday, July 18th. DA Davidson cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating and lowered their price target for the stock from $175.00 to $125.00 in a report on Thursday, July 31st. Cantor Fitzgerald began coverage on SPS Commerce in a report on Tuesday, June 3rd. They set an “overweight” rating and a $170.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on SPS Commerce from $175.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Five equities 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, the company has a consensus rating of “Moderate Buy” and an average price target of $165.80.

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.