Allspring Global Investments Holdings LLC Sells 101,501 Shares of SPS Commerce, Inc. $SPSC

Key Points

• Allspring Global Investments cut its SPS Commerce stake by 95.8% in the first quarter, selling 101,501 shares and retaining 4,449 shares valued at approximately $250,000.
• Institutional ownership remains very high at 98.96%, with several investors—including UBS Group, Bessemer Group and SG Americas—substantially increasing their positions.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $75.82. SPS Commerce recently beat earnings expectations, reporting $1.10 in quarterly EPS on $192.12 million in revenue.

Allspring Global Investments Holdings LLC decreased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 95.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,449 shares of the software maker's stock after selling 101,501 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in SPS Commerce were worth $250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPSC. Lightrock Netherlands B.V. acquired a new stake in shares of SPS Commerce in the 4th quarter valued at $7,389,000. Bessemer Group Inc. lifted its holdings in SPS Commerce by 1,149.1% during the 4th quarter. Bessemer Group Inc. now owns 98,208 shares of the software maker's stock valued at $8,753,000 after purchasing an additional 90,346 shares during the last quarter. VELA Investment Management LLC bought a new position in SPS Commerce during the 4th quarter valued at about $1,798,000. SG Americas Securities LLC boosted its position in SPS Commerce by 205.3% in the fourth quarter. SG Americas Securities LLC now owns 39,753 shares of the software maker's stock valued at $3,543,000 after buying an additional 26,730 shares in the last quarter. Finally, UBS Group AG boosted its position in SPS Commerce by 182.3% in the fourth quarter. UBS Group AG now owns 1,295,267 shares of the software maker's stock valued at $115,447,000 after buying an additional 836,407 shares in the last quarter. Institutional investors own 98.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research upgraded SPS Commerce from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Citigroup reiterated a "buy" rating and issued a $82.00 price objective (up from $76.00) on shares of SPS Commerce in a research report on Tuesday, July 21st. Stifel Nicolaus set a $60.00 price objective on SPS Commerce in a research note on Friday, May 1st. Weiss Ratings cut SPS Commerce from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, July 23rd. Finally, Wall Street Zen lowered SPS Commerce from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $75.82.

SPS Commerce Stock Performance

Shares of SPSC opened at $69.40 on Thursday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 28.92 and a beta of 0.56. The business's fifty day moving average price is $58.28 and its two-hundred day moving average price is $62.47. SPS Commerce, Inc. has a 52 week low of $49.04 and a 52 week high of $141.98.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Thursday, April 30th. The software maker reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.13. The company had revenue of $192.12 million during the quarter, compared to the consensus estimate of $192.50 million. SPS Commerce had a return on equity of 12.43% and a net margin of 11.92%.The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. As a group, research analysts forecast that SPS Commerce, Inc. will post 3.42 EPS for the current year.

SPS Commerce Company Profile

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company's platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.

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