16,861 Shares in SPS Commerce, Inc. (NASDAQ:SPSC) Bought by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT acquired 16,861 shares of SPS Commerce, Inc. in Q1, valued at approximately $2.24 million, according to recent SEC filings.
• SPS Commerce reported a 22.0% increase in quarterly revenue year-over-year, achieving $187.40 million, and beat analysts' EPS expectations by $0.10.
• Wall Street analysts have adjusted price targets for SPS Commerce, with changes reflecting a range between $120.00 and $170.00, while maintaining an overall average rating of "Moderate Buy".

Zions Bancorporation National Association UT purchased a new position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,861 shares of the software maker's stock, valued at approximately $2,238,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPSC. Citigroup Inc. boosted its stake in shares of SPS Commerce by 1.5% in the first quarter. Citigroup Inc. now owns 60,513 shares of the software maker's stock worth $8,032,000 after acquiring an additional 907 shares during the period. Headlands Technologies LLC boosted its stake in shares of SPS Commerce by 135.9% in the first quarter. Headlands Technologies LLC now owns 8,696 shares of the software maker's stock worth $1,154,000 after acquiring an additional 5,009 shares during the period. Deutsche Bank AG boosted its stake in shares of SPS Commerce by 45.4% in the first quarter. Deutsche Bank AG now owns 106,401 shares of the software maker's stock worth $14,123,000 after acquiring an additional 33,239 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of SPS Commerce by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 483,654 shares of the software maker's stock worth $64,195,000 after acquiring an additional 2,238 shares during the period. Finally, Blair William & Co. IL boosted its stake in SPS Commerce by 151.4% during the first quarter. Blair William & Co. IL now owns 8,067 shares of the software maker's stock valued at $1,071,000 after buying an additional 4,858 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. DA Davidson downgraded SPS Commerce from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $175.00 to $125.00 in a report on Thursday, July 31st. Loop Capital cut SPS Commerce from a "buy" rating to a "hold" rating and dropped their target price for the company from $175.00 to $120.00 in a research report on Thursday, July 31st. Robert W. Baird raised their price objective on SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target for the company. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $165.80.

SPS Commerce Price Performance

Shares of NASDAQ SPSC traded up $5.10 during mid-day trading on Wednesday, reaching $113.58. 292,321 shares of the company traded hands, compared to its average volume of 346,804. SPS Commerce, Inc. has a fifty-two week low of $102.05 and a fifty-two week high of $203.86. The firm has a market cap of $4.31 billion, a PE ratio of 52.11 and a beta of 0.71. The stock has a fifty day simple moving average of $132.57 and a 200-day simple moving average of $139.24.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. As a group, analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal 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.