SPS Commerce, Inc. (NASDAQ:SPSC) Position Lessened by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 99.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 629 shares of the software maker's stock after selling 124,710 shares during the period. Bessemer Group Inc.'s holdings in SPS Commerce were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in SPS Commerce during the fourth quarter valued at about $40,000. Hurley Capital LLC bought a new position in SPS Commerce during the fourth quarter valued at about $41,000. MassMutual Private Wealth & Trust FSB raised its holdings in SPS Commerce by 126.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock valued at $30,000 after buying an additional 125 shares in the last quarter. Johnson Financial Group Inc. bought a new position in SPS Commerce during the fourth quarter valued at about $70,000. Finally, Versant Capital Management Inc raised its holdings in SPS Commerce by 4,155.6% during the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock valued at $51,000 after buying an additional 374 shares in the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SPSC shares. Robert W. Baird raised their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $210.00 target price on shares of SPS Commerce in a report on Friday, April 25th. Cantor Fitzgerald started coverage on SPS Commerce in a report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 target price on the stock. Finally, DA Davidson cut their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a report 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $192.56.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC opened at $141.55 on Friday. The company has a market cap of $5.38 billion, a P/E ratio of 66.15 and a beta of 0.71. The stock's 50-day moving average is $141.43 and its 200-day moving average is $150.98. SPS Commerce, Inc. has a 52-week low of $120.09 and a 52-week high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.15. The company had revenue of $181.55 million for the quarter, compared to the consensus estimate of $179.57 million. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The firm's revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. As a group, equities analysts predict 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.

Want to see what other hedge funds are holding SPSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPS Commerce, Inc. (NASDAQ:SPSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.