Bank of New York Mellon Corp Buys 34,859 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Bank of New York Mellon Corp increased its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 11.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 331,432 shares of the software maker's stock after buying an additional 34,859 shares during the period. Bank of New York Mellon Corp owned about 0.87% of SPS Commerce worth $43,991,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPSC. Amundi boosted its holdings in SPS Commerce by 199.1% in the 4th quarter. Amundi now owns 19,534 shares of the software maker's stock worth $3,581,000 after buying an additional 13,003 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in SPS Commerce by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,653 shares of the software maker's stock valued at $1,776,000 after buying an additional 1,022 shares in the last quarter. HighTower Advisors LLC grew its holdings in SPS Commerce by 157.2% during the 4th quarter. HighTower Advisors LLC now owns 21,161 shares of the software maker's stock valued at $3,893,000 after buying an additional 12,933 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in SPS Commerce by 15.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 7,706 shares of the software maker's stock valued at $1,418,000 after buying an additional 1,041 shares in the last quarter. Finally, Swiss National Bank lifted its stake in SPS Commerce by 0.8% in the 4th quarter. Swiss National Bank now owns 72,900 shares of the software maker's stock worth $13,413,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Up 1.5%

NASDAQ:SPSC traded up $2.15 during mid-day trading on Thursday, hitting $142.50. 311,848 shares of the stock traded hands, compared to its average volume of 264,459. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 66.59 and a beta of 0.71. SPS Commerce, Inc. has a 52 week low of $120.09 and a 52 week high of $218.61. The firm's 50 day moving average is $140.71 and its two-hundred day moving average is $147.48.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price target on the stock. Robert W. Baird boosted their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a research note on Friday, April 25th. Finally, Morgan Stanley began coverage on shares of SPS Commerce in a report on Monday. They issued an "overweight" rating and a $180.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $191.30.

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.