Geneva Capital Management LLC Lowers Stock Position 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 lowered its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of SPS Commerce by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker's stock valued at $43,991,000 after purchasing an additional 34,859 shares during the last quarter. KBC Group NV grew its position in SPS Commerce by 8.1% during the first quarter. KBC Group NV now owns 1,651 shares of the software maker's stock valued at $219,000 after buying an additional 124 shares during the period. SG Americas Securities LLC bought a new position in SPS Commerce during the first quarter valued at about $1,045,000. First Trust Advisors LP grew its position in SPS Commerce by 202.0% during the fourth quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock valued at $1,046,000 after buying an additional 3,801 shares during the period. Finally, Barclays PLC grew its position in SPS Commerce by 4.2% during the fourth quarter. Barclays PLC now owns 69,192 shares of the software maker's stock valued at $12,730,000 after buying an additional 2,805 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

SPSC has been the subject of several research reports. Stifel Nicolaus reduced their price target on shares of SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday. DA Davidson lowered shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from $175.00 to $125.00 in a research report on Thursday. Morgan Stanley reduced 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. Robert W. Baird increased their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of SPS Commerce from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.80.

SPS Commerce Stock Down 4.6%

Shares of NASDAQ:SPSC opened at $103.88 on Monday. The firm has a market capitalization of $3.94 billion, a PE ratio of 47.65 and a beta of 0.71. SPS Commerce, Inc. has a twelve month low of $103.18 and a twelve month high of $204.21. The company has a 50-day moving average price of $137.36 and a two-hundred day moving average price of $143.05.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.10. The firm 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%. The company's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. Analysts anticipate 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.

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