2,370 Shares in SPS Commerce, Inc. (NASDAQ:SPSC) Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC purchased a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,370 shares of the software maker's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Alliance LLC grew its position in shares of SPS Commerce by 15.5% during the 1st quarter. Wealth Alliance LLC now owns 1,803 shares of the software maker's stock valued at $239,000 after acquiring an additional 242 shares during the period. South Dakota Investment Council grew its position in shares of SPS Commerce by 235.3% during the 1st quarter. South Dakota Investment Council now owns 5,700 shares of the software maker's stock valued at $757,000 after acquiring an additional 4,000 shares during the period. Diversify Advisory Services LLC grew its position in shares of SPS Commerce by 35.1% during the 1st quarter. Diversify Advisory Services LLC now owns 2,411 shares of the software maker's stock valued at $342,000 after acquiring an additional 626 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of SPS Commerce by 4.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 13,710 shares of the software maker's stock valued at $1,820,000 after acquiring an additional 623 shares during the period. Finally, Whittier Trust Co. boosted its holdings in SPS Commerce by 1.9% in the 1st quarter. Whittier Trust Co. now owns 25,305 shares of the software maker's stock worth $3,359,000 after buying an additional 478 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. DA Davidson decreased their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley started coverage on shares of SPS Commerce in a research report on Monday, July 14th. They set an "overweight" rating and a $180.00 price target on the stock. 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 target price for the company. Robert W. Baird lifted 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $191.30.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC traded down $2.18 on Thursday, reaching $138.09. The company's stock had a trading volume of 98,195 shares, compared to its average volume of 324,571. The stock's 50-day moving average is $139.83 and its two-hundred day moving average is $146.22. SPS Commerce, Inc. has a 52-week low of $120.08 and a 52-week high of $218.61. The stock has a market capitalization of $5.24 billion, a P/E ratio of 64.49 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The business had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. During the same period in the prior year, the company earned $0.86 earnings per share. The business's revenue was up 21.4% compared to the same quarter last year. Equities analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share 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.