Public Sector Pension Investment Board Buys 26,775 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• The Public Sector Pension Investment Board increased its stake in SPS Commerce, Inc. by 28.6% during Q1, owning 120,347 shares valued at approximately $15,974,000.
• SPS Commerce reported $1.00 EPS for the last quarter, exceeding analysts' estimates of $0.90 EPS, with a revenue increase of 22.0% year-over-year.
• Analysts currently rate SPS Commerce as a "Moderate Buy" with an average price target of $165.80, though several firms have lowered their target prices in recent notes.

Public Sector Pension Investment Board raised its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,347 shares of the software maker's stock after acquiring an additional 26,775 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of SPS Commerce worth $15,974,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SPSC. Nuveen LLC bought a new position in SPS Commerce in the first quarter valued at approximately $37,546,000. Fiera Capital Corp bought a new stake in SPS Commerce in the 1st quarter worth about $31,311,000. Ameriprise Financial Inc. grew its position in SPS Commerce by 33.4% in the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after purchasing an additional 191,740 shares in the last quarter. Raymond James Financial Inc. bought a new position in SPS Commerce in the 4th quarter valued at $27,441,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of SPS Commerce by 96.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 161,954 shares of the software maker's stock worth $29,798,000 after buying an additional 79,540 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPSC has been the topic of several recent research reports. Loop Capital lowered shares of SPS Commerce from a "buy" rating to a "hold" rating and reduced their target price for the company from $175.00 to $120.00 in a report on Thursday, July 31st. Robert W. Baird raised 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. Cantor Fitzgerald initiated 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. Stifel Nicolaus dropped their target price on shares of SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Price Performance

NASDAQ SPSC traded down $1.50 during trading hours on Friday, reaching $112.04. 468,208 shares of the company's stock traded hands, compared to its average volume of 349,808. SPS Commerce, Inc. has a 52-week low of $102.05 and a 52-week high of $203.86. The firm has a market cap of $4.25 billion, a PE ratio of 51.39 and a beta of 0.71. The firm has a 50-day simple moving average of $131.40 and a 200 day simple moving average of $138.52.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.10. The business had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. SPS Commerce's revenue was up 22.0% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. Sell-side analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

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.