EFG Asset Management North America Corp. Lowers Holdings in SPS Commerce, Inc. $SPSC

Key Points

• EFG Asset Management North America Corp. reduced its stake in SPS Commerce, Inc. by 11.8%, resulting in ownership of 17,077 shares, worth approximately $2.27 million at the end of the quarter.
• Multiple institutional investors significantly increased their holdings in SPS Commerce during the first quarter, including MassMutual Private Wealth & Trust FSB with a 126.3% increase and Allworth Financial LP with a 296.6% increase.
• SPS Commerce reported $1.00 earnings per share, exceeding analyst expectations, and estimated FY 2025 guidance at 3.990-4.040 EPS, while several brokerages downgraded their price targets for the stock.

EFG Asset Management North America Corp. lessened its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,077 shares of the software maker's stock after selling 2,294 shares during the period. EFG Asset Management North America Corp.'s holdings in SPS Commerce were worth $2,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in SPS Commerce by 2.0% during the 1st quarter. AQR Capital Management LLC now owns 14,134 shares of the software maker's stock valued at $1,876,000 after buying an additional 275 shares in the last quarter. Advisors Asset Management Inc. increased its position in SPS Commerce by 39.9% during the 1st quarter. Advisors Asset Management Inc. now owns 393 shares of the software maker's stock valued at $52,000 after buying an additional 112 shares in the last quarter. Apollo Management Holdings L.P. bought a new position in SPS Commerce during the 1st quarter valued at approximately $111,000. Royal Bank of Canada increased its position in SPS Commerce by 4.8% during the 1st quarter. Royal Bank of Canada now owns 258,395 shares of the software maker's stock valued at $34,296,000 after buying an additional 11,859 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in SPS Commerce by 83.2% during the 1st quarter. Vident Advisory LLC now owns 2,101 shares of the software maker's stock valued at $279,000 after purchasing an additional 954 shares during the last quarter. Institutional investors own 98.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SPSC shares. DA Davidson downgraded SPS Commerce from a "strong-buy" rating to a "hold" rating and cut their target price for the company from $175.00 to $125.00 in a research note on Thursday, July 31st. 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. Stifel Nicolaus cut their target price on SPS Commerce from $175.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Cantor Fitzgerald started coverage on SPS Commerce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 target price on the stock. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.80.

SPS Commerce Trading Up 1.1%

NASDAQ SPSC traded up $1.24 on Friday, hitting $110.60. 343,815 shares of the company traded hands, compared to its average volume of 422,642. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 50.73 and a beta of 0.70. The business's 50 day moving average price is $123.44 and its 200-day moving average price is $131.85. SPS Commerce, Inc. has a 52-week low of $102.05 and a 52-week high of $201.06.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.10. The company had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%.SPS Commerce's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. As a group, sell-side analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

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.