US Bancorp DE Decreases Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• US Bancorp DE decreased its stake in SPS Commerce by 11.9%, selling 4,870 shares, and now holds 35,891 shares valued at approximately $4.76 million.
• Despite the stake reduction, SPS Commerce’s stock experienced a price increase, trading at $110.40 with a significant market capitalization of $4.19 billion.
• Analysts have mixed opinions on SPS Commerce, with upgrades and downgrades resulting in an average target price of $165.80, suggesting a 'Moderate Buy' rating overall.

US Bancorp DE lowered its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 11.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,891 shares of the software maker's stock after selling 4,870 shares during the period. US Bancorp DE owned 0.09% of SPS Commerce worth $4,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased 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 in the last quarter. Allworth Financial LP raised its holdings in shares of SPS Commerce by 296.6% during the first quarter. Allworth Financial LP now owns 234 shares of the software maker's stock valued at $33,000 after purchasing an additional 175 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of SPS Commerce during the fourth quarter valued at approximately $70,000. Versant Capital Management Inc lifted its position 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 purchasing an additional 374 shares during the period. Finally, Harbor Investment Advisory LLC boosted its holdings in SPS Commerce by 35.6% in the first quarter. Harbor Investment Advisory LLC now owns 548 shares of the software maker's stock worth $73,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPSC. Loop Capital downgraded SPS Commerce from a "buy" rating to a "hold" rating and dropped their price target for the stock from $175.00 to $120.00 in a research note on Thursday, July 31st. Robert W. Baird lifted their price objective on SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Needham & Company LLC cut their price objective on SPS Commerce from $210.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, July 31st. DA Davidson lowered SPS Commerce from a "strong-buy" rating to a "hold" rating and cut their price target for the company from $175.00 to $125.00 in a report on Thursday, July 31st. Finally, Morgan Stanley cut their price target on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, SPS Commerce currently has a consensus rating of "Moderate Buy" and an average price target of $165.80.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC traded down $2.69 during trading hours on Friday, hitting $106.25. 370,052 shares of the company's stock traded hands, compared to its average volume of 477,619. The firm has a market capitalization of $4.03 billion, a P/E ratio of 48.74 and a beta of 0.71. The business has a fifty day moving average price of $133.92 and a 200-day moving average price of $140.83. SPS Commerce, Inc. has a 1 year low of $102.05 and a 1 year high of $204.20.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.90 by $0.10. The firm had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. As a group, equities analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share 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.