US Bancorp DE Has $4.76 Million Stock Holdings 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 cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,891 shares of the software maker's stock after selling 4,870 shares during the period. US Bancorp DE owned approximately 0.09% of SPS Commerce worth $4,764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of SPS Commerce by 109.7% in the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after buying an additional 742,686 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of SPS Commerce by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker's stock valued at $167,264,000 after acquiring an additional 11,590 shares during the period. Ameriprise Financial Inc. lifted its position in shares of SPS Commerce by 33.4% in the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock valued at $140,882,000 after acquiring an additional 191,740 shares in the last quarter. Northern Trust Corp boosted its stake in SPS Commerce by 11.3% in the 4th quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock worth $93,842,000 after purchasing an additional 51,839 shares during the period. Finally, Fred Alger Management LLC grew its position in SPS Commerce by 5.6% during the 4th quarter. Fred Alger Management LLC now owns 481,317 shares of the software maker's stock worth $88,558,000 after purchasing an additional 25,414 shares in the last quarter. 98.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPSC shares. DA Davidson lowered SPS Commerce from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $175.00 to $125.00 in a report on Thursday, July 31st. Needham & Company LLC dropped their price target on SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Cantor Fitzgerald initiated coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price objective for the company. Wall Street Zen upgraded SPS Commerce from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Robert W. Baird upped 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $165.80.

SPS Commerce Trading Down 1.3%

NASDAQ SPSC traded down $1.46 during trading on Thursday, reaching $108.94. The company's stock had a trading volume of 577,865 shares, compared to its average volume of 346,537. The stock has a market capitalization of $4.13 billion, a PE ratio of 49.97 and a beta of 0.71. The business has a 50-day moving average price of $134.61 and a 200-day moving average price of $141.44. 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.10. The business had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. SPS Commerce's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. As a group, analysts expect 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.