Herald Investment Management Ltd Lowers 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 shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,500 shares of the software maker's stock after selling 2,500 shares during the quarter. SPS Commerce comprises about 1.2% of Herald Investment Management Ltd's investment portfolio, making the stock its 26th largest holding. Herald Investment Management Ltd owned approximately 0.13% of SPS Commerce worth $6,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in 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 purchasing an additional 742,686 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in SPS Commerce by 0.9% during 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 acquiring an additional 11,590 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of SPS Commerce by 33.4% during 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 during the last quarter. Northern Trust Corp boosted its stake in shares of SPS Commerce by 11.3% during the 4th quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock worth $93,842,000 after purchasing an additional 51,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position 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 acquiring an additional 2,238 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Price Performance

NASDAQ SPSC traded up $3.67 during mid-day trading on Tuesday, hitting $108.34. The company's stock had a trading volume of 164,962 shares, compared to its average volume of 345,931. SPS Commerce, Inc. has a 52-week low of $102.05 and a 52-week high of $203.86. The firm has a market capitalization of $4.11 billion, a P/E ratio of 49.75 and a beta of 0.71. The stock's fifty day simple moving average is $133.24 and its two-hundred day simple moving average is $139.45.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The software maker reported $1.00 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 firm had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. During the same period in the prior year, the business posted $0.80 earnings per share. The business's quarterly revenue was up 22.0% on a year-over-year basis. On average, equities analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. DA Davidson lowered SPS Commerce from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $175.00 to $125.00 in a report on Thursday, July 31st. Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Wall Street Zen upgraded SPS Commerce from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Morgan Stanley decreased their target price on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a research 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. According to MarketBeat.com, SPS Commerce presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.80.

About SPS Commerce

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.