Natixis Advisors LLC Lowers Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Natixis Advisors LLC reduced its stake in SPS Commerce by 16.2%, now holding approximately 44,485 shares valued at $5.9 million.
• Analyst ratings show mixed sentiment, with five analysts rating the stock as a hold and six as buy, while recent price targets have been adjusted downward.
• SPS Commerce reported a 22.0% year-over-year increase in revenue, achieving earnings of $1.00 per share, exceeding analysts' expectations.

Natixis Advisors LLC lowered its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 16.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,485 shares of the software maker's stock after selling 8,599 shares during the period. Natixis Advisors LLC owned about 0.12% of SPS Commerce worth $5,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPSC. FMR LLC grew its stake in shares of SPS Commerce by 109.7% in the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after buying an additional 742,686 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of SPS Commerce by 0.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker's stock valued at $167,264,000 after buying an additional 11,590 shares during the period. Ameriprise Financial Inc. grew its stake in shares of SPS Commerce by 33.4% in the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock valued at $140,882,000 after buying an additional 191,740 shares during the period. Northern Trust Corp grew its stake in shares of SPS Commerce by 11.3% in the 4th quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock valued at $93,842,000 after buying an additional 51,839 shares during the period. Finally, Fred Alger Management LLC grew its stake in shares of SPS Commerce by 5.6% in the 4th quarter. Fred Alger Management LLC now owns 481,317 shares of the software maker's stock valued at $88,558,000 after buying an additional 25,414 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. DA Davidson cut shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $175.00 to $125.00 in a research note on Thursday, July 31st. Loop Capital lowered shares of SPS Commerce from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $175.00 to $120.00 in a report on Thursday, July 31st. Robert W. Baird raised 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. Cantor Fitzgerald began coverage on SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price objective on the stock. Finally, Stifel Nicolaus dropped their price objective on SPS Commerce from $175.00 to $165.00 and set a "buy" rating on the stock 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, SPS Commerce has a consensus rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Trading Down 2.5%

NASDAQ:SPSC traded down $2.69 during midday trading on Friday, hitting $106.25. 370,052 shares of the company were exchanged, compared to its average volume of 477,619. The company has a fifty day simple moving average of $133.92 and a 200 day simple moving average of $140.83. SPS Commerce, Inc. has a fifty-two week low of $102.05 and a fifty-two week high of $204.20. The company 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 quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The company had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. During the same period last year, the firm posted $0.80 EPS. SPS Commerce's revenue for the quarter was up 22.0% on a year-over-year basis. As a group, equities research analysts expect that SPS Commerce, Inc. will post 2.73 EPS 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.