Geneva Capital Management LLC Has $76.41 Million Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Geneva Capital Management LLC has reduced its stake in SPS Commerce, Inc. by 1.0%, now holding over 575,700 shares valued at approximately $76.4 million.
• Analysts have lowered price targets for SPS Commerce, with Stifel Nicolaus setting a new target of $165.00, while DA Davidson decreased theirs to $125.00.
• SPS Commerce reported better-than-expected earnings with $1.00 EPS and 22% revenue growth year-over-year, indicating strong market performance.

Geneva Capital Management LLC trimmed its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 575,701 shares of the software maker's stock after selling 6,100 shares during the period. SPS Commerce comprises about 1.4% of Geneva Capital Management LLC's investment portfolio, making the stock its 20th largest position. Geneva Capital Management LLC owned about 1.52% of SPS Commerce worth $76,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPSC. Huntington National Bank raised its stake in shares of SPS Commerce by 68.1% in the 4th quarter. Huntington National Bank now owns 748 shares of the software maker's stock valued at $138,000 after purchasing an additional 303 shares in the last quarter. Wedbush Securities Inc. bought a new position in SPS Commerce during the 4th quarter valued at $244,000. Hurley Capital LLC bought a new stake in SPS Commerce during the fourth quarter worth approximately $41,000. Russell Investments Group Ltd. increased its position in shares of SPS Commerce by 2.7% in the fourth quarter. Russell Investments Group Ltd. now owns 48,232 shares of the software maker's stock worth $8,873,000 after acquiring an additional 1,259 shares in the last quarter. Finally, FMR LLC boosted its position in SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after acquiring an additional 742,686 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Down 1.5%

Shares of NASDAQ SPSC traded down $1.69 during mid-day trading on Thursday, reaching $108.71. 274,675 shares of the company were exchanged, compared to its average volume of 344,319. The company's 50-day simple moving average is $135.27 and its 200-day simple moving average is $142.01. The stock has a market capitalization of $4.12 billion, a P/E ratio of 49.84 and a beta of 0.71. SPS Commerce, Inc. has a twelve month low of $102.05 and a twelve month high of $204.20.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The company had revenue of $187.40 million for the quarter, compared to analysts' expectations of $185.88 million. During the same period last year, the firm earned $0.80 earnings per share. The business's revenue for the quarter was up 22.0% on a year-over-year basis. As a group, equities research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analysts Set New Price Targets

SPSC has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price target on shares of SPS Commerce from $175.00 to $165.00 and set a "buy" 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 reduced their target price for the stock from $175.00 to $120.00 in a research report on Thursday, July 31st. Needham & Company LLC reduced their price objective on SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. DA Davidson lowered SPS Commerce from a "strong-buy" rating to a "hold" rating and cut their price target for the company from $175.00 to $125.00 in a research note on Thursday, July 31st. Finally, Morgan Stanley lowered their price target on shares of SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, SPS Commerce presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.80.

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.