Handelsbanken Fonder AB Sells 44,000 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Handelsbanken Fonder AB lessened its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 79.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,100 shares of the software maker's stock after selling 44,000 shares during the quarter. Handelsbanken Fonder AB's holdings in SPS Commerce were worth $1,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPSC. Charles Schwab Investment Management Inc. boosted its position in SPS Commerce by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker's stock worth $88,576,000 after purchasing an additional 16,272 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in SPS Commerce by 2.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker's stock valued at $1,047,000 after purchasing an additional 110 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of SPS Commerce by 35.7% in the 4th quarter. Van ECK Associates Corp now owns 29,919 shares of the software maker's stock worth $5,505,000 after acquiring an additional 7,871 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of SPS Commerce in the 4th quarter worth $628,000. Finally, Vanguard Group Inc. increased its stake in shares of SPS Commerce by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock worth $852,032,000 after acquiring an additional 67,687 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SPSC. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 target price on shares of SPS Commerce in a research report on Friday, April 25th. Robert W. Baird increased their price objective on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a report on Friday, April 25th. DA Davidson dropped 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. Finally, Cantor Fitzgerald initiated coverage on SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 target price on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $192.56.

SPS Commerce Stock Performance

NASDAQ:SPSC traded down $3.09 during trading hours on Friday, hitting $134.80. 276,522 shares of the company's stock traded hands, compared to its average volume of 254,939. The firm has a market cap of $5.12 billion, a P/E ratio of 66.08 and a beta of 0.73. SPS Commerce, Inc. has a twelve month low of $120.09 and a twelve month high of $218.61. The stock's fifty day moving average price is $140.03 and its two-hundred day moving average price is $156.37.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. The company had revenue of $181.55 million for the quarter, compared to analyst estimates of $179.57 million. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The business's revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. On average, equities research analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

SPS Commerce 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.