Allspring Global Investments Holdings LLC Sells 14,392 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Allspring Global Investments Holdings LLC reduced its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,773 shares of the software maker's stock after selling 14,392 shares during the period. Allspring Global Investments Holdings LLC owned about 0.30% of SPS Commerce worth $15,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. acquired a new stake in SPS Commerce during the 4th quarter worth approximately $257,000. Mutual of America Capital Management LLC lifted its holdings in shares of SPS Commerce by 2.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker's stock worth $1,047,000 after purchasing an additional 110 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of SPS Commerce by 57.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,284 shares of the software maker's stock worth $236,000 after purchasing an additional 466 shares during the period. Jones Financial Companies Lllp grew its stake in shares of SPS Commerce by 706.9% in the fourth quarter. Jones Financial Companies Lllp now owns 823 shares of the software maker's stock worth $151,000 after purchasing an additional 721 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in SPS Commerce in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SPSC shares. DA Davidson cut their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald began coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price objective on the stock. Robert W. Baird upped their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $210.00 target price on shares of SPS Commerce in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.56.

SPS Commerce Trading Up 1.2%

SPSC stock traded up $1.61 during mid-day trading on Thursday, reaching $141.55. The company's stock had a trading volume of 179,296 shares, compared to its average volume of 259,560. SPS Commerce, Inc. has a 12 month low of $120.09 and a 12 month high of $218.61. The business's 50 day moving average price is $141.38 and its 200 day moving average price is $151.37. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 66.15 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.15. The company had revenue of $181.55 million during the quarter, compared to analyst estimates of $179.57 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. SPS Commerce's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. As a group, equities analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

SPS Commerce Company 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.