Woodline Partners LP Decreases Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Woodline Partners LP trimmed its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 52.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,565 shares of the software maker's stock after selling 3,910 shares during the period. Woodline Partners LP's holdings in SPS Commerce were worth $656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPSC. FMR LLC grew its position in SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after purchasing an additional 742,686 shares during the last quarter. Norges Bank purchased a new position in SPS Commerce during the 4th quarter worth $81,543,000. JPMorgan Chase & Co. grew its position in SPS Commerce by 99.3% during the 4th quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock worth $93,286,000 after purchasing an additional 252,575 shares during the last quarter. Ameriprise Financial Inc. grew its position in SPS Commerce by 33.4% during the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after purchasing an additional 191,740 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in SPS Commerce during the 4th quarter worth $27,441,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Trading Down 0.8%

Shares of NASDAQ:SPSC traded down $1.18 during midday trading on Friday, hitting $140.55. The stock had a trading volume of 448,276 shares, compared to its average volume of 246,380. The company has a market capitalization of $5.34 billion, a PE ratio of 68.90 and a beta of 0.81. The stock has a 50 day moving average price of $138.18 and a two-hundred day moving average price of $159.42. SPS Commerce, Inc. has a 1 year low of $120.09 and a 1 year 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 EPS for the quarter, beating the consensus estimate of $0.85 by $0.15. The firm had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. As a group, equities analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

SPSC has been the topic of several research reports. Stifel Nicolaus lowered their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird raised their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and set a $210.00 price objective on shares of SPS Commerce in a research report on Friday, April 25th. DA Davidson lowered their price objective on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Northland Securities reaffirmed a "market perform" rating and issued a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $195.38.

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.