Johnson Investment Counsel Inc. Acquires New Shares in SPS Commerce, Inc. (NASDAQ:SPSC)

Johnson Investment Counsel Inc. bought a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,682 shares of the software maker's stock, valued at approximately $1,816,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. bought a new position in shares of SPS Commerce in the 4th quarter worth $628,000. Blue Trust Inc. increased its stake in SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock valued at $47,000 after acquiring an additional 84 shares during the last quarter. Rhumbline Advisers raised its position in SPS Commerce by 1.0% during the fourth quarter. Rhumbline Advisers now owns 103,730 shares of the software maker's stock valued at $19,085,000 after purchasing an additional 1,029 shares in the last quarter. Principal Securities Inc. lifted its stake in SPS Commerce by 16.0% during the fourth quarter. Principal Securities Inc. now owns 1,648 shares of the software maker's stock worth $303,000 after purchasing an additional 227 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of SPS Commerce by 4.9% in the 4th quarter. Principal Financial Group Inc. now owns 193,403 shares of the software maker's stock worth $35,584,000 after purchasing an additional 9,034 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC traded down $0.17 during mid-day trading on Tuesday, hitting $136.48. The stock had a trading volume of 179,510 shares, compared to its average volume of 255,491. The business has a 50 day moving average price of $140.47 and a two-hundred day moving average price of $153.69. SPS Commerce, Inc. has a 1 year low of $120.09 and a 1 year high of $218.61. The firm has a market cap of $5.18 billion, a P/E ratio of 63.78 and a beta of 0.73.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.15. The firm had revenue of $181.55 million for the quarter, compared to analysts' expectations of $179.57 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The company's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. Equities research analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on SPS Commerce in a report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price objective on the stock. Robert W. Baird lifted their price target 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. Needham & Company LLC restated a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a report on Friday, April 25th. Finally, DA Davidson reduced their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.56.

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.