SPS Commerce, Inc. $SPSC Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has reduced its stake in SPS Commerce, Inc. by 17.7%, owning 395,890 shares worth approximately $52.5 million after selling 85,427 shares.
• Multiple institutional investors, including MassMutual and NewEdge Advisors, have significantly increased their positions in SPS Commerce during the first quarter, with some raising stakes by over 500%.
• SPS Commerce reported a 22.0% year-over-year increase in revenue, with quarterly earnings per share of $1.00, exceeding analysts' expectations of $0.90.

Fred Alger Management LLC decreased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 17.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,890 shares of the software maker's stock after selling 85,427 shares during the quarter. Fred Alger Management LLC owned about 1.04% of SPS Commerce worth $52,546,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Select Equity Group L.P. grew its holdings in shares of SPS Commerce by 511.3% during the first quarter. Select Equity Group L.P. now owns 47,985 shares of the software maker's stock worth $6,369,000 after buying an additional 40,135 shares in the last quarter. Petrus Trust Company LTA purchased a new stake in shares of SPS Commerce during the first quarter worth $755,000. NewEdge Advisors LLC grew its holdings in shares of SPS Commerce by 545.7% during the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker's stock worth $30,000 after buying an additional 191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SPS Commerce by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,999 shares of the software maker's stock valued at $12,875,000 after purchasing an additional 1,359 shares during the period. Finally, Granahan Investment Management LLC grew its holdings in shares of SPS Commerce by 33.3% in the first quarter. Granahan Investment Management LLC now owns 403,668 shares of the software maker's stock valued at $53,579,000 after purchasing an additional 100,748 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SPSC shares. Cantor Fitzgerald started 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. Morgan Stanley dropped their price objective on shares of SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Loop Capital lowered shares of SPS Commerce from a "buy" rating to a "hold" rating and dropped their price objective for the company from $175.00 to $120.00 in a report on Thursday, July 31st. Needham & Company LLC dropped their price objective on shares of SPS Commerce from $210.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of SPS Commerce from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, SPS Commerce has a consensus rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Stock Down 6.0%

SPSC stock traded down $6.75 during mid-day trading on Friday, hitting $105.60. 307,743 shares of the company were exchanged, compared to its average volume of 360,280. The firm has a market capitalization of $4.00 billion, a P/E ratio of 48.44 and a beta of 0.70. The business has a fifty day simple moving average of $121.20 and a 200-day simple moving average of $131.17. SPS Commerce, Inc. has a 12-month low of $102.05 and a 12-month high of $201.06.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.10. The company had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. SPS Commerce's revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. Research analysts predict that SPS Commerce, Inc. will post 2.73 EPS 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.