Headlands Technologies LLC Increases Holdings in 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 grew its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 135.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,696 shares of the software maker's stock after purchasing an additional 5,009 shares during the period. Headlands Technologies LLC's holdings in SPS Commerce were worth $1,154,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in 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 acquiring an additional 125 shares during the last quarter. Allworth Financial LP grew its position in 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. Versant Capital Management Inc grew its position in 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. Johnson Financial Group Inc. bought a new stake in SPS Commerce in the 4th quarter worth approximately $70,000. Finally, Harbor Investment Advisory LLC grew its position in 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. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SPSC. Robert W. Baird lifted their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Morgan Stanley cut their target price 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. DA Davidson downgraded shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $175.00 to $125.00 in a research report on Thursday, July 31st. Cantor Fitzgerald started coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price for the company. Finally, Wall Street Zen raised 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 assigned a buy rating to the stock. Based on data from MarketBeat, SPS Commerce currently has an average rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Trading Up 2.4%

SPS Commerce stock traded up $2.47 during mid-day trading on Tuesday, hitting $107.14. The stock had a trading volume of 135,012 shares, compared to its average volume of 345,817. The firm has a market capitalization of $4.06 billion, a P/E ratio of 49.14 and a beta of 0.71. The firm's 50 day moving average is $133.24 and its 200 day moving average is $139.45. SPS Commerce, Inc. has a one year low of $102.05 and a one year high of $203.86.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly 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. The business had revenue of $187.40 million for the quarter, compared to analysts' expectations of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, equities research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

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.