SPS Commerce, Inc. (NASDAQ:SPSC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

A number of other hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. raised its holdings in shares of SPS Commerce by 25.7% during the first quarter. Vontobel Holding Ltd. now owns 7,370 shares of the software maker's stock valued at $978,000 after acquiring an additional 1,509 shares during the last quarter. KBC Group NV raised its holdings in shares of SPS Commerce by 8.1% during the first quarter. KBC Group NV now owns 1,651 shares of the software maker's stock valued at $219,000 after acquiring an additional 124 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of SPS Commerce by 2.3% during the first quarter. Illinois Municipal Retirement Fund now owns 23,600 shares of the software maker's stock valued at $3,132,000 after acquiring an additional 535 shares during the last quarter. Legacy Advisors LLC increased its holdings in shares of SPS Commerce by 21.9% in the first quarter. Legacy Advisors LLC now owns 3,539 shares of the software maker's stock valued at $470,000 after purchasing an additional 636 shares during the last quarter. Finally, Advisor Resource Council purchased a new position in SPS Commerce during the first quarter worth approximately $439,000. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Trading Down 0.5%

SPSC stock traded down $0.67 during midday trading on Thursday, hitting $138.06. 41,849 shares of the company's stock were exchanged, compared to its average volume of 261,261. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61. The business has a 50-day simple moving average of $141.32 and a two-hundred day simple moving average of $149.52. The stock has a market capitalization of $5.24 billion, a PE ratio of 64.46 and a beta of 0.71.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPSC. Cantor Fitzgerald started coverage on SPS Commerce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a research report on Friday, April 25th. Robert W. Baird upped their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, DA Davidson cut their price objective 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.56.

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.