Fred Alger Management LLC Sells 85,427 Shares of SPS Commerce, Inc. $SPSC

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 lessened its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 17.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 395,890 shares of the software maker's stock after selling 85,427 shares during the period. Fred Alger Management LLC owned 1.04% of SPS Commerce worth $52,546,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew 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 purchasing an additional 125 shares during the last quarter. 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 purchasing an additional 191 shares during the last quarter. Allworth Financial LP grew its holdings in shares of SPS Commerce by 296.6% during the first quarter. Allworth Financial LP now owns 234 shares of the software maker's stock worth $33,000 after purchasing an additional 175 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of SPS Commerce by 105.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 302 shares of the software maker's stock valued at $40,000 after acquiring an additional 155 shares during the period. Finally, Versant Capital Management Inc lifted its stake 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 valued at $51,000 after acquiring an additional 374 shares during the period. Institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Performance

NASDAQ:SPSC traded down $6.82 during mid-day trading on Friday, hitting $105.53. The company had a trading volume of 395,579 shares, compared to its average volume of 423,692. SPS Commerce, Inc. has a fifty-two week low of $102.05 and a fifty-two week high of $201.06. The business's fifty day moving average is $120.48 and its two-hundred day moving average is $130.91. The firm has a market cap of $4.00 billion, a P/E ratio of 48.41 and a beta of 0.70.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SPSC shares. Needham & Company LLC cut their price target on SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Morgan Stanley cut their price target on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus cut their price target on SPS Commerce from $175.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Cantor Fitzgerald started coverage on SPS Commerce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target on the stock. Finally, Loop Capital lowered SPS Commerce from a "buy" rating to a "hold" rating and cut their price target for the company from $175.00 to $120.00 in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, SPS Commerce has an average rating of "Moderate Buy" and a consensus target price of $165.80.

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.