Charles Schwab Investment Management Inc. Increases Stake in SPS Commerce, Inc. $SPSC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in SPS Commerce, Inc. by 0.5%, holding a total of 483,654 shares valued at approximately $64.2 million.
• SPS Commerce reported a 22% year-over-year increase in revenue, reaching $187.4 million, and earned $1.00 EPS, exceeding analysts' expectations.
• Equity analysts have issued mixed ratings for SPS Commerce, with target prices adjusted downwards, leading to a current consensus rating of "Hold" with a target price of $165.80.

Charles Schwab Investment Management Inc. boosted its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 483,654 shares of the software maker's stock after purchasing an additional 2,238 shares during the period. Charles Schwab Investment Management Inc. owned about 1.27% of SPS Commerce worth $64,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPSC. Bank of New York Mellon Corp lifted its position in shares of SPS Commerce by 11.8% during the 1st quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker's stock valued at $43,991,000 after buying an additional 34,859 shares in the last quarter. KBC Group NV raised its holdings in SPS Commerce by 8.1% in the 1st quarter. KBC Group NV now owns 1,651 shares of the software maker's stock valued at $219,000 after acquiring an additional 124 shares during the last quarter. SG Americas Securities LLC purchased a new position in SPS Commerce during the first quarter worth approximately $1,045,000. First Trust Advisors LP boosted its position in shares of SPS Commerce by 202.0% during the 4th quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock valued at $1,046,000 after acquiring an additional 3,801 shares during the last quarter. Finally, LPL Financial LLC raised its stake in SPS Commerce by 7.4% during the first quarter. LPL Financial LLC now owns 50,015 shares of the software maker's stock worth $6,487,000 after purchasing an additional 3,454 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SPSC shares. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price on the stock. Robert W. Baird increased their price objective on SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. DA Davidson downgraded SPS Commerce from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $175.00 to $125.00 in a research report on Thursday, July 31st. Morgan Stanley decreased their price target 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. Finally, Wall Street Zen downgraded SPS Commerce from a "buy" rating to a "hold" rating in a research report on Saturday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, SPS Commerce currently has a consensus rating of "Hold" and a consensus target price of $165.80.

SPS Commerce Stock Up 0.0%

NASDAQ:SPSC traded up $0.01 on Tuesday, reaching $114.51. 24,318 shares of the company's stock were exchanged, compared to its average volume of 349,010. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 52.47 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. The business has a fifty day moving average of $130.26 and a 200-day moving average of $136.78.

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, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The firm had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. During the same period in the prior year, the firm earned $0.80 EPS. The firm's revenue for the quarter was up 22.0% on a year-over-year basis. As a group, equities analysts anticipate 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.