Allspring Global Investments Holdings LLC cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 11.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,773 shares of the software maker's stock after selling 14,392 shares during the quarter. 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.
Several other large investors have also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund increased its stake in shares of SPS Commerce by 2.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,600 shares of the software maker's stock valued at $3,132,000 after acquiring an additional 535 shares during the last quarter. Legacy Advisors LLC grew its holdings in SPS Commerce by 21.9% in the first quarter. Legacy Advisors LLC now owns 3,539 shares of the software maker's stock valued at $470,000 after purchasing an additional 636 shares during the period. Advisor Resource Council acquired a new position in SPS Commerce during the first quarter worth approximately $439,000. Johnson Investment Counsel Inc. acquired a new position in SPS Commerce during the first quarter worth approximately $1,816,000. Finally, Conestoga Capital Advisors LLC raised its stake in SPS Commerce by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker's stock worth $167,264,000 after purchasing an additional 11,590 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.
SPS Commerce Price Performance
SPS Commerce stock traded up $1.61 during midday trading on Friday, hitting $141.55. 179,296 shares of the company were exchanged, compared to its average volume of 260,884. The company has a market cap of $5.38 billion, a PE ratio of 66.15 and a beta of 0.71. SPS Commerce, Inc. has a fifty-two week low of $120.09 and a fifty-two week high of $218.61. The company's fifty day moving average price is $141.51 and its 200-day moving average price is $150.02.
SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.15. The company had revenue of $181.55 million for 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%. The business's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. On average, analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on SPSC. Needham & Company LLC reissued a "buy" rating and set a $210.00 price objective on shares of SPS Commerce in a research note on Friday, April 25th. Robert W. Baird boosted their price target on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Cantor Fitzgerald started coverage on SPS Commerce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target for the company. Finally, DA Davidson cut their price objective on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, SPS Commerce has an average rating of "Moderate Buy" and an average target price of $192.56.
Check Out Our Latest Research Report on SPS Commerce
SPS Commerce Profile
(
Free Report)
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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