Focus Financial Network Inc. Trims Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Focus Financial Network Inc. cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 59.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,046 shares of the software maker's stock after selling 5,900 shares during the period. Focus Financial Network Inc.'s holdings in SPS Commerce were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPSC. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 purchasing an additional 125 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $40,000. Hurley Capital LLC acquired a new position in shares of SPS Commerce during the fourth quarter worth $41,000. Blue Trust Inc. lifted its holdings in SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after buying an additional 84 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in SPS Commerce by 4,155.6% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock worth $51,000 after buying an additional 374 shares during the period. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Price Performance

SPS Commerce stock traded down $3.09 during mid-day trading on Friday, hitting $134.80. The company's stock had a trading volume of 276,522 shares, compared to its average volume of 254,939. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 66.08 and a beta of 0.73. The business has a 50 day moving average price of $140.03 and a 200-day moving average price of $156.37. SPS Commerce, Inc. has a 12 month low of $120.09 and a 12 month 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 the consensus estimate of $0.85 by $0.15. The business had revenue of $181.55 million during the quarter, compared to the consensus estimate of $179.57 million. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, equities research analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SPSC shares. DA Davidson cut their price objective 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. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and set a $210.00 target price on shares of SPS Commerce in a research report on Friday, April 25th. Finally, Robert W. Baird lifted their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. 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.com, the stock has an average rating of "Moderate Buy" and an average price target 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.