Royal Bank of Canada Increases Stake in SPS Commerce, Inc. $SPSC

Key Points

• Royal Bank of Canada increased its stake in SPS Commerce, Inc. by 4.8% in Q1, owning 258,395 shares valued at $34.3 million as of its latest SEC filing.
• Analysts have revised target prices for SPS Commerce, with Stifel Nicolaus reducing their target from $175.00 to $165.00, and Needham & Company decreasing theirs from $210.00 to $160.00, maintaining a "buy" rating.
• SPS Commerce reported an earnings per share (EPS) of $1.00 for the last quarter, exceeding the consensus estimate of $0.90, indicating 22% revenue growth compared to the previous year.

Royal Bank of Canada grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 258,395 shares of the software maker's stock after purchasing an additional 11,859 shares during the period. Royal Bank of Canada owned approximately 0.68% of SPS Commerce worth $34,296,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vident Advisory LLC boosted its position in shares of SPS Commerce by 83.2% during the 1st quarter. Vident Advisory LLC now owns 2,101 shares of the software maker's stock worth $279,000 after purchasing an additional 954 shares in the last quarter. Magnetar Financial LLC boosted its position in shares of SPS Commerce by 60.4% in the 1st quarter. Magnetar Financial LLC now owns 5,371 shares of the software maker's stock worth $713,000 after buying an additional 2,023 shares in the last quarter. State of Wyoming boosted its position in shares of SPS Commerce by 39.2% in the 1st quarter. State of Wyoming now owns 1,573 shares of the software maker's stock worth $209,000 after buying an additional 443 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of SPS Commerce by 11.5% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 19,994 shares of the software maker's stock worth $2,654,000 after buying an additional 2,061 shares in the last quarter. Finally, Thematics Asset Management boosted its position in shares of SPS Commerce by 12.7% in the 1st quarter. Thematics Asset Management now owns 175,190 shares of the software maker's stock worth $23,253,000 after buying an additional 19,738 shares in the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPSC shares. Stifel Nicolaus decreased their price objective on shares of SPS Commerce from $175.00 to $165.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Needham & Company LLC decreased their price objective on shares of SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen lowered shares of SPS Commerce from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Morgan Stanley decreased their price objective on shares of SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald started coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average target price of $165.80.

SPS Commerce Stock Performance

SPSC stock traded down $6.82 during trading on Friday, hitting $105.53. The stock had a trading volume of 395,579 shares, compared to its average volume of 423,692. The company's 50 day moving average price is $120.48 and its two-hundred day moving average price is $130.94. SPS Commerce, Inc. has a 1-year low of $102.05 and a 1-year high of $201.06. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 48.41 and a beta of 0.70.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.10. The business had revenue of $187.40 million for 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%. The company's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. As a group, sell-side analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal 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.