Headlands Technologies LLC Purchases 5,009 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Headlands Technologies LLC significantly increased its position in SPS Commerce, Inc. by 135.9% during the first quarter, owning 8,696 shares worth approximately $1.15 million.
• Notable institutional investors like Bank of New York Mellon Corp and First Trust Advisors LP also raised their stakes in SPS Commerce, with institutional ownership now at 98.96%.
• Analysts remain divided on SPS Commerce, with recent price targets ranging from $120.00 to $175.00, and the stock currently holds a Moderate Buy rating based on averages from market analysts.

Headlands Technologies LLC raised its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 135.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,696 shares of the software maker's stock after buying an additional 5,009 shares during the quarter. Headlands Technologies LLC's holdings in SPS Commerce were worth $1,154,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of SPS Commerce by 126.3% in the 1st 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 period. Allworth Financial LP boosted its holdings in shares of SPS Commerce by 296.6% in the 1st 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 period. Johnson Financial Group Inc. purchased a new position in shares of SPS Commerce in the 4th quarter worth approximately $70,000. Versant Capital Management Inc boosted its holdings in shares of SPS Commerce by 4,155.6% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock worth $51,000 after purchasing an additional 374 shares during the period. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of SPS Commerce by 35.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 548 shares of the software maker's stock worth $73,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Down 2.5%

SPSC traded down $2.69 during trading hours on Friday, reaching $106.25. 370,052 shares of the company's stock traded hands, compared to its average volume of 477,619. The firm has a 50-day moving average price of $133.92 and a 200 day moving average price of $140.46. SPS Commerce, Inc. has a 52-week low of $102.05 and a 52-week high of $204.20. The firm has a market capitalization of $4.03 billion, a PE ratio of 48.74 and a beta of 0.71.

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, beating analysts' consensus estimates of $0.90 by $0.10. The business had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. SPS Commerce's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Equities analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SPSC. Loop Capital cut SPS Commerce from a "buy" rating to a "hold" rating and dropped their target price for the stock from $175.00 to $120.00 in a report on Thursday, July 31st. DA Davidson cut SPS Commerce from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $175.00 to $125.00 in a report on Thursday, July 31st. Stifel Nicolaus dropped their target price on SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Needham & Company LLC dropped their target price on SPS Commerce from $210.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Finally, Morgan Stanley dropped their target price on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.