Riverbridge Partners LLC Sells 58,898 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Riverbridge Partners LLC lowered its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 592,704 shares of the software maker's stock after selling 58,898 shares during the quarter. Riverbridge Partners LLC owned approximately 1.56% of SPS Commerce worth $78,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in SPS Commerce by 126.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock worth $30,000 after buying an additional 125 shares during the period. SBI Securities Co. Ltd. purchased a new stake in SPS Commerce in the 4th quarter worth approximately $40,000. Hurley Capital LLC purchased a new stake in SPS Commerce in the 4th quarter worth approximately $41,000. Blue Trust Inc. lifted its holdings in SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after buying an additional 84 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in SPS Commerce by 4,155.6% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock worth $51,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented 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 research note on Friday, April 25th. Cantor Fitzgerald started coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price for the company. DA Davidson lowered their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC restated a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average target price of $192.56.

SPS Commerce Trading Up 2.4%

NASDAQ:SPSC traded up $3.18 during trading hours on Monday, reaching $136.65. 241,828 shares of the company traded hands, compared to its average volume of 255,795. The business's 50-day moving average price is $140.47 and its two-hundred day moving average price is $153.69. The stock has a market capitalization of $5.19 billion, a P/E ratio of 63.86 and a beta of 0.73. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.15. The business had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. As a group, equities analysts anticipate 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.