Federated Hermes Inc. Reduces Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Federated Hermes Inc. reduced its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 32.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,983 shares of the software maker's stock after selling 50,522 shares during the quarter. Federated Hermes Inc. owned approximately 0.28% of SPS Commerce worth $14,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of SPS Commerce by 126.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock valued at $30,000 after buying an additional 125 shares during the last quarter. Allworth Financial LP raised its stake in SPS Commerce by 296.6% in the 1st quarter. Allworth Financial LP now owns 234 shares of the software maker's stock valued at $33,000 after acquiring an additional 175 shares during the period. Hurley Capital LLC purchased a new stake in SPS Commerce during the fourth quarter valued at about $41,000. Versant Capital Management Inc lifted its holdings in SPS Commerce by 4,155.6% during the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock valued at $51,000 after purchasing an additional 374 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in SPS Commerce during the fourth quarter worth about $70,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. DA Davidson lowered shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $175.00 to $125.00 in a research report on Thursday. Needham & Company LLC reduced their price objective on shares of SPS Commerce from $210.00 to $160.00 and set a "buy" rating for the company in a research note on Thursday. Robert W. Baird boosted their target price 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 began coverage on SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price target for the company. Finally, Loop Capital cut SPS Commerce from a "buy" rating to a "hold" rating and reduced their price target for the company from $175.00 to $120.00 in a research report on Thursday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $165.80.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $103.88 on Friday. The firm has a fifty day moving average price of $137.36 and a two-hundred day moving average price of $143.69. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 47.65 and a beta of 0.71. SPS Commerce, Inc. has a one year low of $103.18 and a one year high of $204.21.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. The firm's revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. Equities research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal 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.

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