Legato Capital Management LLC Raises Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Legato Capital Management LLC lifted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 48.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,721 shares of the software maker's stock after buying an additional 2,518 shares during the quarter. Legato Capital Management LLC's holdings in SPS Commerce were worth $1,025,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings in SPS Commerce by 126.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock worth $30,000 after purchasing an additional 125 shares during the last quarter. Allworth Financial LP raised its holdings in SPS Commerce by 296.6% during the first quarter. Allworth Financial LP now owns 234 shares of the software maker's stock worth $33,000 after purchasing an additional 175 shares during the last quarter. Hurley Capital LLC acquired a new position in SPS Commerce during the fourth quarter worth $41,000. Versant Capital Management Inc raised its holdings in SPS Commerce by 4,155.6% during the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock worth $51,000 after purchasing an additional 374 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in SPS Commerce during the fourth quarter worth $70,000. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

SPS Commerce stock traded down $1.30 during trading on Friday, hitting $136.49. The company's stock had a trading volume of 364,873 shares, compared to its average volume of 314,025. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 63.78 and a beta of 0.71. The stock's fifty day moving average is $139.33 and its 200 day moving average is $145.32. SPS Commerce, Inc. has a 1-year low of $120.08 and a 1-year high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The firm had revenue of $181.55 million during the quarter, compared to analyst estimates of $179.57 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The business's quarterly revenue was up 21.4% compared to the same quarter last year. On average, research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPSC has been the subject of several research reports. DA Davidson reduced their price objective on SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley initiated coverage on SPS Commerce in a report on Monday, July 14th. They set an "overweight" rating and a $180.00 price objective for the company. Cantor Fitzgerald initiated coverage on SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price target for the company. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $187.00.

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.