Conestoga Capital Advisors LLC Has $460,000 Stake in SPS Commerce, Inc. $SPSC

Key Points

• Conestoga Capital Advisors sharply reduced its SPS Commerce position by 98.7% in the first quarter, leaving it with 8,270 shares worth about $460,000.
• SPS Commerce reported better-than-expected earnings of $1.10 per share, while revenue came in roughly in line with estimates and rose 5.8% year over year.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with an average price target of $76.45, even as several firms lowered their targets recently.

Conestoga Capital Advisors LLC trimmed its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 98.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,270 shares of the software maker's stock after selling 634,534 shares during the period. Conestoga Capital Advisors LLC's holdings in SPS Commerce were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its position in shares of SPS Commerce by 39.9% during the first quarter. Advisors Asset Management Inc. now owns 393 shares of the software maker's stock worth $52,000 after acquiring an additional 112 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in SPS Commerce by 0.6% during the fourth quarter. State of Alaska Department of Revenue now owns 20,986 shares of the software maker's stock worth $1,870,000 after acquiring an additional 126 shares in the last quarter. Park Place Capital Corp raised its holdings in SPS Commerce by 29.7% during the fourth quarter. Park Place Capital Corp now owns 564 shares of the software maker's stock worth $50,000 after acquiring an additional 129 shares in the last quarter. Evergreen Capital Management LLC boosted its position in SPS Commerce by 7.1% during the fourth quarter. Evergreen Capital Management LLC now owns 2,337 shares of the software maker's stock valued at $208,000 after purchasing an additional 155 shares during the last quarter. Finally, State of Wyoming boosted its position in SPS Commerce by 10.8% during the fourth quarter. State of Wyoming now owns 1,792 shares of the software maker's stock valued at $160,000 after purchasing an additional 174 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPSC. DA Davidson set a $55.00 price target on SPS Commerce and gave the stock a "neutral" rating in a research report on Wednesday. Needham & Company LLC cut their price objective on SPS Commerce from $110.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 1st. Citigroup decreased their target price on shares of SPS Commerce from $84.00 to $76.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Morgan Stanley set a $70.00 target price on shares of SPS Commerce in a report on Friday, May 1st. Finally, Weiss Ratings lowered shares of SPS Commerce from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $76.45.

SPS Commerce Stock Up 2.0%

NASDAQ:SPSC opened at $58.29 on Thursday. SPS Commerce, Inc. has a 12-month low of $49.04 and a 12-month high of $143.55. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 24.29 and a beta of 0.56. The stock's 50 day moving average price is $54.97 and its two-hundred day moving average price is $66.38.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Thursday, April 30th. The software maker reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.13. SPS Commerce had a return on equity of 12.43% and a net margin of 11.92%.The business had revenue of $192.12 million for the quarter, compared to analyst estimates of $192.50 million. During the same period in the previous year, the firm earned $1.00 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. SPS Commerce has set its FY 2026 guidance at 4.730-4.760 EPS and its Q2 2026 guidance at 1.060-1.090 EPS. Equities research analysts expect that SPS Commerce, Inc. will post 3.41 EPS for the current year.

Insider Activity at SPS Commerce

In other news, Director Marty M. Reaume sold 1,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $57.90, for a total value of $57,900.00. Following the transaction, the director directly owned 9,158 shares of the company's stock, valued at $530,248.20. This represents a 9.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.58% of the stock is currently owned by corporate insiders.

About SPS Commerce

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company's platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.

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