Inspire Advisors LLC Makes New Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Inspire Advisors LLC has acquired a new position in SPS Commerce, purchasing 3,727 shares valued at approximately $495,000 in the first quarter.
• Institutional investments in SPS Commerce are significant, with 98.96% of the stock currently held by hedge funds and other investors, including major acquisitions by Commonwealth Equity Services and JPMorgan Chase & Co.
• Analysts have a positive outlook on SPS Commerce, with several upgrades resulting in a current average price target of $187.00 and multiple "buy" ratings from equities research firms.

Inspire Advisors LLC bought a new stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,727 shares of the software maker's stock, valued at approximately $495,000.

Other hedge funds have also made changes to their positions in the company. Hurley Capital LLC bought a new position in SPS Commerce during the fourth quarter worth $41,000. MassMutual Private Wealth & Trust FSB raised its position 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 valued at $30,000 after buying an additional 125 shares during the last quarter. Allworth Financial LP increased its holdings 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 acquiring an additional 175 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of SPS Commerce during the 4th quarter valued at about $70,000. Finally, Versant Capital Management Inc increased its stake 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. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Trading Down 3.5%

Shares of NASDAQ:SPSC traded down $3.86 during trading on Friday, hitting $105.01. 328,969 shares of the stock were exchanged, compared to its average volume of 335,228. SPS Commerce, Inc. has a 12-month low of $104.45 and a 12-month high of $204.21. The company has a fifty day moving average price of $138.14 and a two-hundred day moving average price of $144.23. The company has a market cap of $3.99 billion, a PE ratio of 48.20 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly 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 company had revenue of $187.40 million for the quarter, compared to analyst estimates of $185.88 million. SPS Commerce had a return on equity of 12.38% and a net margin of 11.79%. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 EPS. Equities research analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on SPSC. Morgan Stanley dropped their target price on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday. Cantor Fitzgerald initiated coverage on SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 target price for the company. Robert W. Baird raised their price objective on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Loop Capital lowered SPS Commerce from a "buy" rating to a "hold" rating and decreased their price target for the stock from $175.00 to $120.00 in a research note on Thursday. Finally, Wall Street Zen upgraded SPS Commerce from a "hold" rating to a "buy" rating in a 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 company's stock. According to data from MarketBeat.com, SPS Commerce presently 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.