SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 39.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,787 shares of the software maker's stock after selling 2,461 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in SPS Commerce were worth $503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of SPS Commerce by 126.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock worth $30,000 after purchasing an additional 125 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of SPS Commerce during the fourth quarter worth $40,000. Hurley Capital LLC purchased a new position in shares of SPS Commerce during the fourth quarter worth $41,000. Versant Capital Management Inc raised its holdings in shares of SPS Commerce by 4,155.6% during the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock worth $51,000 after purchasing an additional 374 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of SPS Commerce during the fourth quarter worth $70,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, April 25th. 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 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a report on Friday, April 25th. Finally, DA Davidson cut their price objective on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, SPS Commerce presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.56.

SPS Commerce Stock Performance

Shares of SPSC stock traded down $0.94 on Friday, reaching $133.13. 678,863 shares of the company were exchanged, compared to its average volume of 257,951. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 62.21 and a beta of 0.73. The business has a 50-day moving average price of $140.87 and a 200 day moving average price of $152.25. 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 posted its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.15. The firm had revenue of $181.55 million for the quarter, compared to analyst estimates of $179.57 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. SPS Commerce's quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, equities analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

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.