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

Envestnet Portfolio Solutions Inc. lowered its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 39.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,787 shares of the software maker's stock after selling 2,461 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in SPS Commerce were worth $503,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in SPS Commerce by 126.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of SPS Commerce in the 4th quarter valued at approximately $40,000. Hurley Capital LLC purchased a new position in shares of SPS Commerce during the 4th quarter valued at approximately $41,000. Versant Capital Management Inc grew its position 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 buying an additional 374 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of SPS Commerce during the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC traded up $2.78 during midday trading on Tuesday, hitting $138.87. The company's stock had a trading volume of 344,165 shares, compared to its average volume of 259,258. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61. The firm's fifty day moving average price is $141.23 and its 200-day moving average price is $151.45. The firm has a market cap of $5.27 billion, a P/E ratio of 64.89 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) 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 analysts' expectations of $179.57 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. SPS Commerce's revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. As a group, research analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPSC. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a report on Friday, April 25th. Cantor Fitzgerald started coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price on the stock. DA Davidson reduced their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird lifted 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.56.

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.