Principal Financial Group Inc. Has $26.51 Million Position in SPS Commerce, Inc. (NASDAQ:SPSC)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in SPSC. Amica Retiree Medical Trust lifted its stake in shares of SPS Commerce by 19.4% in the fourth quarter. Amica Retiree Medical Trust now owns 518 shares of the software maker's stock valued at $95,000 after buying an additional 84 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of SPS Commerce by 1.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,020 shares of the software maker's stock valued at $1,476,000 after buying an additional 91 shares during the period. Hancock Whitney Corp lifted its stake in shares of SPS Commerce by 8.3% in the fourth quarter. Hancock Whitney Corp now owns 1,193 shares of the software maker's stock valued at $220,000 after buying an additional 91 shares during the period. Arizona State Retirement System lifted its stake in shares of SPS Commerce by 0.9% in the fourth quarter. Arizona State Retirement System now owns 10,755 shares of the software maker's stock valued at $1,979,000 after buying an additional 92 shares during the period. Finally, Synovus Financial Corp lifted its stake in shares of SPS Commerce by 1.2% in the fourth quarter. Synovus Financial Corp now owns 9,430 shares of the software maker's stock valued at $1,735,000 after buying an additional 115 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC traded down $2.73 during trading on Thursday, reaching $136.00. The stock had a trading volume of 245,941 shares, compared to its average volume of 262,448. SPS Commerce, Inc. has a 52 week low of $120.09 and a 52 week high of $218.61. The business's 50-day moving average price is $141.20 and its 200 day moving average price is $149.17. The stock has a market capitalization of $5.17 billion, a PE ratio of 63.55 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating 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 company had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. SPS Commerce's quarterly revenue was up 21.4% compared to the same quarter last year. Analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SPSC shares. Robert W. Baird increased their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. DA Davidson cut 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 note on Monday, April 14th. Cantor Fitzgerald started coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.56.

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.