SPS Commerce, Inc. (NASDAQ:SPSC) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 86.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,361 shares of the software maker's stock after purchasing an additional 54,077 shares during the quarter. New York State Common Retirement Fund owned approximately 0.31% of SPS Commerce worth $15,445,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SPSC. HighTower Advisors LLC lifted its position in shares of SPS Commerce by 157.2% in the 4th quarter. HighTower Advisors LLC now owns 21,161 shares of the software maker's stock valued at $3,893,000 after acquiring an additional 12,933 shares in the last quarter. Swiss National Bank lifted its holdings in shares of SPS Commerce by 0.8% during the 4th quarter. Swiss National Bank now owns 72,900 shares of the software maker's stock worth $13,413,000 after acquiring an additional 600 shares during the period. Commonwealth Equity Services LLC lifted its holdings in SPS Commerce by 36.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,615 shares of the software maker's stock valued at $665,000 after purchasing an additional 966 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of SPS Commerce in the fourth quarter worth about $649,000. Finally, Xponance Inc. grew its holdings in SPS Commerce by 11.7% during the fourth quarter. Xponance Inc. now owns 2,717 shares of the software maker's stock valued at $500,000 after purchasing an additional 284 shares during the period. Institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Performance

SPSC stock opened at $142.50 on Friday. The firm has a market cap of $5.41 billion, a P/E ratio of 66.59 and a beta of 0.71. SPS Commerce, Inc. has a 1 year low of $120.09 and a 1 year high of $218.61. The stock has a 50-day simple moving average of $140.71 and a 200-day simple moving average of $147.48.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.86 earnings per share. SPS Commerce's revenue was up 21.4% compared to the same quarter last year. On average, equities research analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley initiated coverage on shares of SPS Commerce in a research note on Monday. They set an "overweight" rating and a $180.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $210.00 price objective on shares of SPS Commerce in a report on Friday, April 25th. Robert W. Baird increased their target price 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. DA Davidson lowered their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Cantor Fitzgerald started coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price target on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, SPS Commerce presently has an average rating of "Moderate Buy" and a consensus target price of $191.30.

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.

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