Alberta Investment Management Corp Buys 3,750 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Alberta Investment Management Corp has increased its stake in SPS Commerce, Inc. by 47.7% to a total of 11,607 shares, valued at approximately $1.54 million.
• Several institutions, including Bank of New York Mellon Corp and KBC Group NV, have also raised their positions in SPS Commerce, leading to institutional investors owning nearly 99% of the company's stock.
• Analyst ratings for SPS Commerce have varied, with most recent reports showing a consensus rating of "Moderate Buy" and a target price averaging around $165.80.

Alberta Investment Management Corp increased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 47.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,607 shares of the software maker's stock after buying an additional 3,750 shares during the period. Alberta Investment Management Corp's holdings in SPS Commerce were worth $1,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank raised its holdings in SPS Commerce by 68.1% in the fourth quarter. Huntington National Bank now owns 748 shares of the software maker's stock worth $138,000 after purchasing an additional 303 shares during the period. Wedbush Securities Inc. acquired a new position in SPS Commerce during the fourth quarter worth $244,000. Hurley Capital LLC bought a new position in shares of SPS Commerce in the 4th quarter valued at about $41,000. Russell Investments Group Ltd. boosted its holdings in shares of SPS Commerce by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 48,232 shares of the software maker's stock valued at $8,873,000 after buying an additional 1,259 shares during the last quarter. Finally, FMR LLC increased its stake 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 worth $261,235,000 after purchasing an additional 742,686 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Price Performance

NASDAQ:SPSC traded down $1.69 on Thursday, reaching $108.71. 274,675 shares of the company's stock were exchanged, compared to its average volume of 344,319. The stock has a fifty day simple moving average of $135.27 and a 200-day simple moving average of $142.01. SPS Commerce, Inc. has a 52 week low of $102.05 and a 52 week high of $204.20. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 49.84 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $187.40 million during 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%. SPS Commerce's revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective 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. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price objective for the company. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Robert W. Baird increased their target price 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. Finally, Morgan Stanley decreased their price objective on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.