AlphaQuest LLC Increases Position in SPS Commerce, Inc. $SPSC

Key Points

• AlphaQuest LLC increased its stake in SPS Commerce, Inc. by 104.3% during the first quarter, owning a total of 6,469 shares valued at approximately $859,000 after purchasing an additional 3,302 shares.
• Recent analyst reports have resulted in multiple downgrades for SPS Commerce, with price targets being lowered significantly, leading to a consensus rating of "Moderate Buy".
• SPS Commerce reported $1.00 earnings per share (EPS) for its latest quarter, exceeding analysts' expectations and showing a 22% year-over-year revenue growth.

AlphaQuest LLC grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 104.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,469 shares of the software maker's stock after buying an additional 3,302 shares during the quarter. AlphaQuest LLC's holdings in SPS Commerce were worth $859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Advantage Alpha Capital Partners LP purchased a new stake in shares of SPS Commerce during the 1st quarter valued at $6,059,000. Norinchukin Bank The raised its position in shares of SPS Commerce by 38.3% during the 1st quarter. Norinchukin Bank The now owns 7,550 shares of the software maker's stock valued at $1,002,000 after buying an additional 2,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of SPS Commerce during the 1st quarter valued at $88,000. Wellington Management Group LLP raised its position in shares of SPS Commerce by 7.1% during the 1st quarter. Wellington Management Group LLP now owns 247,652 shares of the software maker's stock valued at $32,871,000 after buying an additional 16,327 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of SPS Commerce by 0.7% during the 1st quarter. Northern Trust Corp now owns 513,370 shares of the software maker's stock valued at $68,140,000 after buying an additional 3,329 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

Analysts Set New Price Targets

SPSC has been the topic of several research reports. DA Davidson cut shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $175.00 to $125.00 in a research report on Thursday, July 31st. Needham & Company LLC decreased their target price on shares of SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Morgan Stanley decreased their target price on shares of SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Loop Capital cut shares of SPS Commerce from a "buy" rating to a "hold" rating and decreased their target price for the stock from $175.00 to $120.00 in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald started coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.80.

SPS Commerce Trading Down 0.6%

Shares of SPSC stock traded down $0.63 during mid-day trading on Friday, reaching $110.30. The stock had a trading volume of 453,401 shares, compared to its average volume of 497,616. The stock's 50-day moving average price is $126.02 and its two-hundred day moving average price is $133.24. The firm has a market capitalization of $4.18 billion, a PE ratio of 50.60 and a beta of 0.71. SPS Commerce, Inc. has a 52-week low of $102.05 and a 52-week high of $203.86.

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

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.