Herald Investment Management Ltd Has $6.30 Million Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Herald Investment Management Ltd reduced its stake in SPS Commerce by 5.0%, holding 47,500 shares valued at approximately $6.3 million, making it the 26th largest holding in their portfolio.
• During the first quarter, multiple institutional investors adjusted their holdings in SPS Commerce, with Bank of New York Mellon Corp increasing its stake by 11.8% to own 331,432 shares worth nearly $44 million.
• SPS Commerce reported earnings of $1.00 per share for the last quarter, exceeding the expected $0.90, with revenue rising 22.0% year-over-year to $187.4 million.

Herald Investment Management Ltd trimmed its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,500 shares of the software maker's stock after selling 2,500 shares during the quarter. SPS Commerce comprises approximately 1.2% of Herald Investment Management Ltd's holdings, making the stock its 26th largest position. Herald Investment Management Ltd owned 0.13% of SPS Commerce worth $6,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in shares of SPS Commerce by 109.7% in the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after buying an additional 742,686 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of SPS Commerce by 0.9% in the first quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker's stock worth $167,264,000 after buying an additional 11,590 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of SPS Commerce by 33.4% in the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after buying an additional 191,740 shares during the last quarter. Northern Trust Corp lifted its stake in shares of SPS Commerce by 11.3% in the fourth quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock worth $93,842,000 after buying an additional 51,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of SPS Commerce by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 483,654 shares of the software maker's stock worth $64,195,000 after buying an additional 2,238 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPSC has been the subject of a number of analyst reports. DA Davidson cut shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $175.00 to $125.00 in a research note on Thursday, July 31st. Morgan Stanley dropped their target price 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. Stifel Nicolaus dropped their target price 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. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 target price on the stock. Finally, Needham & Company LLC dropped their target price 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. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, SPS Commerce has an average rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Stock Down 2.5%

SPS Commerce stock traded down $2.69 on Friday, hitting $106.25. The company's stock had a trading volume of 370,052 shares, compared to its average volume of 477,619. The firm has a market cap of $4.03 billion, a P/E ratio of 48.74 and a beta of 0.71. The company has a fifty day moving average price of $133.92 and a 200-day moving average price of $140.46. SPS Commerce, Inc. has a one year low of $102.05 and a one year high of $204.20.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.10. The firm 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 business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current 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.