Torray Investment Partners LLC Increases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Torray Investment Partners LLC increased its stake in SPS Commerce by 59.3% in Q1, now holding 10,783 shares worth approximately $1.43 million.
• During Q4, several institutional investors, including FMR LLC and JPMorgan Chase & Co., significantly increased their holdings in SPS Commerce, indicating strong institutional interest.
• SPS Commerce reported a quarterly earnings per share (EPS) of $1.00, surpassing analyst expectations, with a revenue increase of 22.0% year-over-year to $187.4 million.

Torray Investment Partners LLC increased its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 59.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,783 shares of the software maker's stock after purchasing an additional 4,016 shares during the period. Torray Investment Partners LLC's holdings in SPS Commerce were worth $1,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SPSC. Journey Strategic Wealth LLC increased its stake in SPS Commerce by 4.3% during the 1st quarter. Journey Strategic Wealth LLC now owns 1,919 shares of the software maker's stock worth $255,000 after buying an additional 79 shares during the period. Hancock Whitney Corp increased its stake in SPS Commerce by 8.3% during the 4th quarter. Hancock Whitney Corp now owns 1,193 shares of the software maker's stock worth $220,000 after buying an additional 91 shares during the period. Nisa Investment Advisors LLC increased its stake in SPS Commerce by 7.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,391 shares of the software maker's stock worth $185,000 after buying an additional 96 shares during the period. Synovus Financial Corp increased its stake in SPS Commerce by 1.2% during the 4th quarter. Synovus Financial Corp now owns 9,430 shares of the software maker's stock worth $1,735,000 after buying an additional 115 shares during the period. Finally, KBC Group NV increased its stake in SPS Commerce by 8.1% during the 1st quarter. KBC Group NV now owns 1,651 shares of the software maker's stock worth $219,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on SPSC. Wall Street Zen upgraded shares of SPS Commerce from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Needham & Company LLC lowered their price target on shares of SPS Commerce from $210.00 to $160.00 and set a "buy" rating for the company in a report on Thursday. Cantor Fitzgerald began coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target for the company. Stifel Nicolaus lowered their price target on shares of SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a report on Thursday. Finally, Loop Capital cut shares of SPS Commerce from a "buy" rating to a "hold" rating and lowered their price target for the stock from $175.00 to $120.00 in a report on Thursday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $165.80.

SPS Commerce Stock Down 4.6%

SPSC traded down $4.98 on Friday, reaching $103.88. The company had a trading volume of 817,312 shares, compared to its average volume of 338,830. SPS Commerce, Inc. has a 1 year low of $103.18 and a 1 year high of $204.21. The stock has a market capitalization of $3.95 billion, a PE ratio of 47.65 and a beta of 0.71. The stock has a 50-day moving average price of $138.14 and a 200-day moving average price of $144.23.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced 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 firm had revenue of $187.40 million during the quarter, compared to analysts' expectations of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.38%. SPS Commerce's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal 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.