Alberta Investment Management Corp Has $1.54 Million Holdings in 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 raised its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 47.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,607 shares of the software maker's stock after purchasing an additional 3,750 shares during the quarter. Alberta Investment Management Corp's holdings in SPS Commerce were worth $1,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised 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 valued at $43,991,000 after purchasing an additional 34,859 shares during the period. KBC Group NV raised its stake in shares of SPS Commerce by 8.1% in the 1st quarter. KBC Group NV now owns 1,651 shares of the software maker's stock valued at $219,000 after purchasing an additional 124 shares during the period. SG Americas Securities LLC acquired a new stake in shares of SPS Commerce in the first quarter valued at about $1,045,000. First Trust Advisors LP increased its position in shares of SPS Commerce by 202.0% in the fourth quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock valued at $1,046,000 after acquiring an additional 3,801 shares during the last quarter. Finally, Barclays PLC increased its position in shares of SPS Commerce by 4.2% in the fourth quarter. Barclays PLC now owns 69,192 shares of the software maker's stock valued at $12,730,000 after acquiring an additional 2,805 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Analyst Ratings Changes

SPSC has been the topic of a number of recent research reports. Needham & Company LLC lowered their target price on SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Loop Capital downgraded SPS Commerce from a "buy" rating to a "hold" rating and lowered their target price for the company from $175.00 to $120.00 in a research report on Thursday. DA Davidson downgraded SPS Commerce from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $175.00 to $125.00 in a research report on Thursday. 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 report on Thursday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Stock Performance

SPS Commerce stock opened at $103.88 on Monday. SPS Commerce, Inc. has a 52 week low of $103.18 and a 52 week high of $204.21. The stock has a market capitalization of $3.94 billion, a P/E ratio of 47.65 and a beta of 0.71. The stock has a 50-day simple moving average of $137.36 and a 200 day simple moving average of $143.05.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, topping 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 analysts' expectations of $185.88 million. During the same quarter last year, the company posted $0.80 earnings per share. SPS Commerce's quarterly revenue was up 22.0% on a year-over-year basis. Research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

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.

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