Allspring Global Investments Holdings LLC Has $13.63 Million Stock Position in SPS Commerce, Inc. $SPSC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in SPS Commerce by 13.7%, owning approximately 0.26% of the company, which is valued at about $13.63 million.
• Institutional investors dominate SPS Commerce, owning 98.96% of its stock, with Bank of New York Mellon Corp increasing its position by 11.8% recently.
• SPS Commerce reported strong quarterly earnings, with an EPS of $1.00 that surpassed estimates, alongside a 22% increase in revenue year-over-year.

Allspring Global Investments Holdings LLC lowered its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 13.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,152 shares of the software maker's stock after selling 15,621 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.26% of SPS Commerce worth $13,630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of SPS Commerce by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker's stock worth $43,991,000 after buying an additional 34,859 shares during the last quarter. KBC Group NV lifted its position in shares of SPS Commerce by 8.1% in the first quarter. KBC Group NV now owns 1,651 shares of the software maker's stock worth $219,000 after buying an additional 124 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of SPS Commerce by 22.7% in the second quarter. Johnson Investment Counsel Inc. now owns 16,792 shares of the software maker's stock worth $2,285,000 after buying an additional 3,110 shares during the last quarter. Royal Bank of Canada lifted its position in shares of SPS Commerce by 4.8% in the first quarter. Royal Bank of Canada now owns 258,395 shares of the software maker's stock worth $34,296,000 after buying an additional 11,859 shares during the last quarter. Finally, Select Equity Group L.P. lifted its position in shares of SPS Commerce by 511.3% in the first quarter. Select Equity Group L.P. now owns 47,985 shares of the software maker's stock worth $6,369,000 after buying an additional 40,135 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Stock Up 1.8%

Shares of SPSC opened at $109.05 on Friday. SPS Commerce, Inc. has a 12-month low of $102.05 and a 12-month high of $201.06. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 50.02 and a beta of 0.69. The stock's 50-day moving average price is $109.00 and its 200 day moving average price is $126.78.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%.The firm had revenue of $187.40 million for the quarter, compared to analyst estimates of $185.88 million. During the same period in the previous year, the company posted $0.80 earnings per share. The company's quarterly revenue was up 22.0% compared to the same quarter last year. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. Equities research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on SPSC shares. Cantor Fitzgerald reduced their price target on SPS Commerce from $170.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, September 24th. Weiss Ratings reissued a "hold (c-)" rating on shares of SPS Commerce in a research report on Wednesday, October 8th. DA Davidson reissued a "neutral" rating and set a $125.00 price objective on shares of SPS Commerce in a research report on Thursday, September 25th. Northland Securities set a $125.00 price objective on SPS Commerce in a research report on Tuesday, September 30th. Finally, Wall Street Zen cut SPS Commerce from a "buy" rating to a "hold" rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $153.70.

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.

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