Mitsubishi UFJ Asset Management UK Ltd. Sells 5,000 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. significantly reduced its holdings in SPS Commerce, selling 5,000 shares, which equates to a 71.4% decrease during the first quarter, leaving them with 2,000 shares valued at $265,000.
• SPS Commerce's stock increased by 6.3% and recently opened at $115.35, with a market cap of $4.37 billion and a price-to-earnings ratio of 52.91.
• Analysts maintain a consensus rating of "Moderate Buy" for SPS Commerce, with a target price averaging $165.80, alongside recent target adjustments from multiple brokerages.

Mitsubishi UFJ Asset Management UK Ltd. reduced its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 71.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,000 shares of the software maker's stock after selling 5,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in SPS Commerce were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SPSC. Bank of Montreal Can lifted its holdings in SPS Commerce by 3.6% during the fourth quarter. Bank of Montreal Can now owns 10,992 shares of the software maker's stock worth $2,022,000 after acquiring an additional 386 shares during the period. Raymond James Financial Inc. bought a new stake in SPS Commerce during the fourth quarter worth $27,441,000. Synovus Financial Corp lifted its holdings in SPS Commerce by 1.2% during the fourth quarter. Synovus Financial Corp now owns 9,430 shares of the software maker's stock worth $1,735,000 after acquiring an additional 115 shares during the period. Summit Investment Advisors Inc. lifted its holdings in SPS Commerce by 3.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,894 shares of the software maker's stock worth $716,000 after acquiring an additional 135 shares during the period. Finally, Barclays PLC lifted its holdings in SPS Commerce by 4.2% during the fourth quarter. Barclays PLC now owns 69,192 shares of the software maker's stock worth $12,730,000 after acquiring an additional 2,805 shares during the period. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Up 6.3%

SPS Commerce stock opened at $115.35 on Thursday. SPS Commerce, Inc. has a 52 week low of $102.05 and a 52 week high of $203.86. The business has a 50-day simple moving average of $131.97 and a 200 day simple moving average of $139.07. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 52.91 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted 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 return on equity of 12.10% and a net margin of 11.79%. The business had revenue of $187.40 million during the quarter, compared to analysts' expectations of $185.88 million. During the same period in the previous year, the business earned $0.80 earnings per share. The firm's revenue was up 22.0% on a year-over-year basis. On average, research analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SPSC. Cantor Fitzgerald began coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price on the stock. Morgan Stanley lowered their target price on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Needham & Company LLC lowered their target price on SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Loop Capital lowered SPS Commerce from a "buy" rating to a "hold" rating and lowered their target price for the company from $175.00 to $120.00 in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lowered their target price on SPS Commerce from $175.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average target price 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.

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