Zions Bancorporation National Association UT Invests $2.24 Million in SPS Commerce, Inc. (NASDAQ:SPSC)

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 bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 16,861 shares of the software maker's stock, valued at approximately $2,238,000.

Several other institutional investors have also made changes to their positions in the business. FMR LLC boosted its position in shares of SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after acquiring an additional 742,686 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of SPS Commerce by 0.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker's stock valued at $167,264,000 after acquiring an additional 11,590 shares in the last quarter. Ameriprise Financial Inc. boosted its position in 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 in the last quarter. Northern Trust Corp boosted its position in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 valued at $64,195,000 after buying an additional 2,238 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Down 1.5%

NASDAQ SPSC traded down $1.58 during trading hours on Monday, hitting $104.67. The company's stock had a trading volume of 433,899 shares, compared to its average volume of 484,979. The stock has a fifty day moving average of $133.24 and a 200 day moving average of $139.45. The firm has a market capitalization of $3.97 billion, a P/E ratio of 48.01 and a beta of 0.71. SPS Commerce, Inc. has a twelve month low of $102.05 and a twelve month high of $203.86.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.90 by $0.10. The company had revenue of $187.40 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. On average, analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Analyst Ratings Changes

SPSC has been the topic of a number of recent analyst 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 price target on the stock. Robert W. Baird boosted their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. DA Davidson lowered shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from $175.00 to $125.00 in a research report on Thursday, July 31st. Stifel Nicolaus reduced their price target on shares of SPS Commerce from $175.00 to $165.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, Loop Capital lowered shares of SPS Commerce from a "buy" rating to a "hold" rating and reduced their price target for the company from $175.00 to $120.00 in a research report on Thursday, July 31st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, SPS Commerce has an average rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce 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.