Prescott Group Capital Management L.L.C. Sells 5,000 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Prescott Group Capital Management L.L.C. reduced its position in SPS Commerce, Inc. by 31.3% during the first quarter, now holding 11,000 shares valued at approximately $1.46 million.
• SPS Commerce reported earnings per share (EPS) of $1.00 for the latest quarter, exceeding analyst estimates of $0.85, alongside a revenue of $181.55 million, marking a 21.4% year-over-year increase.
• As of now, 98.96% of SPS Commerce's stock is owned by institutional investors and hedge funds, highlighting significant interest from major financial players.

Prescott Group Capital Management L.L.C. reduced its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 31.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the software maker's stock after selling 5,000 shares during the quarter. Prescott Group Capital Management L.L.C.'s holdings in SPS Commerce were worth $1,460,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of SPS Commerce by 11.8% during the first quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker's stock worth $43,991,000 after purchasing an additional 34,859 shares during the period. KBC Group NV raised its position in shares of SPS Commerce by 8.1% during the first quarter. KBC Group NV now owns 1,651 shares of the software maker's stock worth $219,000 after purchasing an additional 124 shares during the period. SG Americas Securities LLC acquired a new stake in SPS Commerce in the 1st quarter valued at approximately $1,045,000. Vanguard Group Inc. lifted its stake in SPS Commerce by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock valued at $852,032,000 after acquiring an additional 67,687 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in SPS Commerce by 202.0% during the 4th quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock worth $1,046,000 after acquiring an additional 3,801 shares during the last quarter. Institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Down 0.2%

Shares of NASDAQ SPSC traded down $0.27 during midday trading on Tuesday, hitting $139.95. 91,783 shares of the company's stock were exchanged, compared to its average volume of 325,165. The firm has a market capitalization of $5.32 billion, a PE ratio of 65.67 and a beta of 0.71. SPS Commerce, Inc. has a 12 month low of $120.08 and a 12 month high of $218.61. The company's 50 day moving average price is $139.15 and its 200 day moving average price is $144.78.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPSC. Wall Street Zen upgraded shares of SPS Commerce from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Robert W. Baird lifted their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. DA Davidson reduced their price objective on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley initiated coverage on SPS Commerce in a report on Monday, July 14th. They issued an "overweight" rating and a $180.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $210.00 target price on shares of SPS Commerce in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, SPS Commerce has an average rating of "Moderate Buy" and an average price target of $187.00.

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.