Focus Financial Network Inc. Sells 5,900 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Focus Financial Network Inc. cut its position in 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 SEC. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently 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 acquiring an additional 125 shares during the period. SBI Securities Co. Ltd. bought a new position in SPS Commerce during the 4th quarter worth about $40,000. Hurley Capital LLC acquired a new stake in shares of SPS Commerce in the 4th quarter valued at about $41,000. Blue Trust Inc. lifted its holdings in shares of SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock valued at $47,000 after purchasing an additional 84 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of SPS Commerce by 4,155.6% in 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 in the last quarter. 98.96% of the stock is owned by institutional investors.

SPS Commerce Trading Down 0.2%

Shares of NASDAQ:SPSC traded down $0.28 on Tuesday, hitting $134.36. The company had a trading volume of 261,650 shares, compared to its average volume of 255,528. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 62.79 and a beta of 0.73. The stock has a 50 day moving average price of $140.26 and a 200 day moving average price of $155.56. 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 earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.85 by $0.15. The company had revenue of $181.55 million for the quarter, compared to the consensus estimate of $179.57 million. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Sell-side analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPSC has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on SPS Commerce in a report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a research note on Friday, April 25th. DA Davidson lowered their price objective on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Robert W. Baird increased their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average target price of $192.56.

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.