Principal Financial Group Inc. Raises Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Principal Financial Group Inc. raised its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 199,709 shares of the software maker's stock after acquiring an additional 6,306 shares during the quarter. Principal Financial Group Inc. owned approximately 0.53% of SPS Commerce worth $26,507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPSC. MassMutual Private Wealth & Trust FSB boosted its stake in shares of SPS Commerce by 126.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of SPS Commerce in the 4th quarter valued at $40,000. Hurley Capital LLC bought a new stake in shares of SPS Commerce in the 4th quarter valued at $41,000. Versant Capital Management Inc boosted its stake in shares of SPS Commerce by 4,155.6% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock valued at $51,000 after purchasing an additional 374 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of SPS Commerce in the 4th quarter valued at $70,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research note on Friday, April 25th. Cantor Fitzgerald began coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price objective on the stock. Robert W. Baird increased their target price 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. Finally, DA Davidson cut their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.56.

SPS Commerce Stock Down 3.1%

SPS Commerce stock traded down $4.27 during midday trading on Friday, reaching $131.73. The stock had a trading volume of 222,863 shares, compared to its average volume of 262,290. The firm's 50-day moving average price is $141.20 and its 200 day moving average price is $149.17. SPS Commerce, Inc. has a 12 month low of $120.09 and a 12 month high of $218.61. The firm has a market capitalization of $5.00 billion, a PE ratio of 61.56 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share 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 for the quarter, compared to analysts' expectations of $179.57 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company's revenue was up 21.4% on a year-over-year basis. Equities research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current 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.