Banque Pictet & Cie SA Takes $381,000 Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Banque Pictet & Cie SA bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,869 shares of the software maker's stock, valued at approximately $381,000.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in SPS Commerce by 126.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock valued at $30,000 after purchasing an additional 125 shares during the period. Hurley Capital LLC acquired a new position in SPS Commerce during the 4th quarter valued at about $41,000. Versant Capital Management Inc increased its stake in shares of SPS Commerce by 4,155.6% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock valued at $51,000 after acquiring an additional 374 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of SPS Commerce in the 4th quarter valued at about $70,000. Finally, Harbor Investment Advisory LLC increased its stake in shares of SPS Commerce by 35.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 548 shares of the software maker's stock valued at $73,000 after acquiring an additional 144 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

NASDAQ SPSC traded down $4.27 during trading hours on Friday, reaching $131.73. 222,863 shares of the company's stock were exchanged, compared to its average volume of 262,645. The company's 50-day moving average is $140.96 and its two-hundred day moving average is $148.77. SPS Commerce, Inc. has a one year low of $120.09 and a one year high of $218.61. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 61.56 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. The company had revenue of $181.55 million during the quarter, compared to analysts' expectations 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 period last year, the business earned $0.86 EPS. Research analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPSC has been the subject of a number of recent analyst reports. DA Davidson lowered their price target on SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a research note on Friday, April 25th. Cantor Fitzgerald initiated coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price target for the company. Finally, Robert W. Baird upped their price target on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, SPS Commerce has a consensus rating of "Moderate Buy" and a consensus price target of $192.56.

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.