Principal Financial Group Inc. Increases Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Principal Financial Group Inc. raised its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 199,709 shares of the software maker's stock after buying an additional 6,306 shares during the period. Principal Financial Group Inc. owned 0.53% of SPS Commerce worth $26,507,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in shares of SPS Commerce by 706.9% during the 4th quarter. Jones Financial Companies Lllp now owns 823 shares of the software maker's stock worth $151,000 after buying an additional 721 shares during the period. SBI Securities Co. Ltd. bought a new stake in SPS Commerce in the 4th quarter valued at about $40,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of SPS Commerce by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker's stock worth $88,576,000 after acquiring an additional 16,272 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of SPS Commerce during the 4th quarter worth approximately $14,083,000. Finally, Arizona State Retirement System lifted its stake in SPS Commerce by 0.9% in the 4th quarter. Arizona State Retirement System now owns 10,755 shares of the software maker's stock valued at $1,979,000 after purchasing an additional 92 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SPSC shares. Needham & Company LLC restated a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a research report on Friday, April 25th. DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Robert W. Baird upped their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. 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 target for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce currently has an average rating of "Moderate Buy" and a consensus target price of $192.56.

SPS Commerce Stock Down 0.7%

NASDAQ:SPSC traded down $0.91 during mid-day trading on Wednesday, hitting $138.73. 217,936 shares of the stock traded hands, compared to its average volume of 261,542. The business's 50-day moving average price is $141.42 and its 200 day moving average price is $149.59. The company has a market cap of $5.27 billion, a PE ratio of 64.83 and a beta of 0.71. SPS Commerce, Inc. has a 12-month low of $120.09 and a 12-month high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. 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 previous year, the business posted $0.86 EPS. The business's quarterly revenue was up 21.4% on a year-over-year basis. Analysts anticipate that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal 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.