Blair William & Co. IL Grows Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Blair William & Co. IL increased its stake in SPS Commerce by 151.4% during the first quarter, bringing its total holdings to over $1 million.
• SPS Commerce reported a 22% increase in revenue year-over-year, totaling $187.4 million for the latest quarter, surpassing analyst expectations.
• Recent analyst adjustments have seen target prices for SPS Commerce range between $120.00 and $175.00, with the consensus rating being a "Moderate Buy."

Blair William & Co. IL grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 151.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,067 shares of the software maker's stock after purchasing an additional 4,858 shares during the quarter. Blair William & Co. IL's holdings in SPS Commerce were worth $1,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its holdings in shares of SPS Commerce by 109.7% during the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after acquiring an additional 742,686 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in SPS Commerce by 0.9% in 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. Ameriprise Financial Inc. grew its stake in SPS Commerce by 33.4% in the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after purchasing an additional 191,740 shares during the period. Northern Trust Corp grew its stake in SPS Commerce by 11.3% in the fourth quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock worth $93,842,000 after purchasing an additional 51,839 shares during the period. Finally, Fred Alger Management LLC grew its stake in SPS Commerce by 5.6% in the fourth quarter. Fred Alger Management LLC now owns 481,317 shares of the software maker's stock worth $88,558,000 after purchasing an additional 25,414 shares during the period. Institutional investors own 98.96% of the company's stock.

SPS Commerce Trading Down 2.2%

SPSC stock traded down $2.54 during trading on Thursday, reaching $112.81. The stock had a trading volume of 193,773 shares, compared to its average volume of 348,114. SPS Commerce, Inc. has a 52 week low of $102.05 and a 52 week high of $203.86. The stock's 50 day moving average is $131.97 and its two-hundred day moving average is $139.07. The firm has a market cap of $4.28 billion, a PE ratio of 51.74 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. The firm had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. During the same quarter last year, the company earned $0.80 earnings per share. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. On average, research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analysts Set New Price Targets

SPSC has been the topic of several recent research reports. Robert W. Baird upped their price target on SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Morgan Stanley cut their target price on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. DA Davidson cut SPS Commerce from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $175.00 to $125.00 in a research note on Thursday, July 31st. Needham & Company LLC cut their target price on SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price target on SPS Commerce from $175.00 to $165.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, SPS Commerce has a consensus rating of "Moderate Buy" and an average price target of $165.80.

SPS Commerce 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.