Envestnet Asset Management Inc. Sells 10,149 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Envestnet Asset Management Inc. lowered its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 205,040 shares of the software maker's stock after selling 10,149 shares during the quarter. Envestnet Asset Management Inc. owned 0.54% of SPS Commerce worth $27,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in SPS Commerce by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock valued at $852,032,000 after purchasing an additional 67,687 shares during the last quarter. FMR LLC lifted its position in SPS Commerce by 109.7% in the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after purchasing an additional 742,686 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position 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 valued at $167,264,000 after purchasing an additional 11,590 shares during the last quarter. Ameriprise Financial Inc. lifted its position in SPS Commerce by 33.4% in the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock valued at $140,882,000 after purchasing an additional 191,740 shares during the last quarter. Finally, Northern Trust Corp lifted its position in SPS Commerce by 11.3% in the fourth quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock valued at $93,842,000 after purchasing an additional 51,839 shares during the last quarter. Institutional investors own 98.96% of the company's stock.

SPS Commerce Trading Down 1.4%

SPS Commerce stock traded down $2.02 on Friday, hitting $140.49. 183,138 shares of the stock traded hands, compared to its average volume of 264,157. The firm has a market cap of $5.34 billion, a P/E ratio of 65.51 and a beta of 0.71. The business's fifty day simple moving average is $140.71 and its 200 day simple moving average is $147.48. SPS Commerce, Inc. has a 1 year low of $120.09 and a 1 year high of $218.61.

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, beating the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The firm had revenue of $181.55 million during the quarter, compared to the consensus estimate of $179.57 million. During the same period last year, the company earned $0.86 earnings per share. The company's revenue was up 21.4% on a year-over-year basis. As a group, analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPSC. 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 began 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. Robert W. Baird raised 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 began coverage on SPS Commerce in a research note on Monday. They issued an "overweight" rating and a $180.00 price target for the company. Finally, DA Davidson dropped 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. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce currently has an average rating of "Moderate Buy" and a consensus price target of $191.30.

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.