Thematics Asset Management Buys 19,738 Shares of SPS Commerce, Inc. $SPSC

Key Points

• Thematics Asset Management increased its stake in SPS Commerce by 12.7%, now owning 175,190 shares worth approximately $23.25 million, making it the 29th largest holding in their portfolio.
• In the first quarter, other hedge funds also boosted their holdings in SPS Commerce, with notable increases from Bank of New York Mellon Corp at 11.8% and KBC Group NV at 8.1%.
• SPS Commerce reported a 22% revenue increase year-over-year for the latest quarter, exceeding analysts' expectations with earnings of $1.00 per share against a consensus estimate of $0.90.

Thematics Asset Management lifted its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,190 shares of the software maker's stock after buying an additional 19,738 shares during the period. SPS Commerce comprises 1.2% of Thematics Asset Management's holdings, making the stock its 29th largest holding. Thematics Asset Management owned approximately 0.46% of SPS Commerce worth $23,253,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of SPS Commerce by 11.8% in the 1st quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker's stock worth $43,991,000 after purchasing an additional 34,859 shares during the period. KBC Group NV boosted its holdings in SPS Commerce by 8.1% during the first quarter. KBC Group NV now owns 1,651 shares of the software maker's stock worth $219,000 after buying an additional 124 shares in the last quarter. SG Americas Securities LLC purchased a new stake in SPS Commerce during the first quarter worth $1,045,000. First Trust Advisors LP boosted its holdings in SPS Commerce by 202.0% during the fourth quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock worth $1,046,000 after buying an additional 3,801 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of SPS Commerce by 7.4% in the first quarter. LPL Financial LLC now owns 50,015 shares of the software maker's stock valued at $6,487,000 after purchasing an additional 3,454 shares during the period. 98.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPSC has been the topic of a number of analyst reports. DA Davidson downgraded shares of SPS Commerce from a "strong-buy" rating to a "hold" rating and reduced their target price for the stock from $175.00 to $125.00 in a research note on Thursday, July 31st. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price objective for the company. Loop Capital cut shares of SPS Commerce from a "buy" rating to a "hold" rating and lowered their price objective for the company from $175.00 to $120.00 in a research note on Thursday, July 31st. Needham & Company LLC decreased their target price on shares of SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of SPS Commerce from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.80.

SPS Commerce Stock Up 0.0%

Shares of SPSC traded up $0.04 during trading hours on Friday, reaching $110.97. The company's stock had a trading volume of 204,577 shares, compared to its average volume of 354,108. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 50.87 and a beta of 0.71. SPS Commerce, Inc. has a 1-year low of $102.05 and a 1-year high of $203.86. The company has a 50 day moving average of $126.49 and a two-hundred day moving average of $133.67.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%.The business had revenue of $187.40 million during the quarter, compared to analysts' expectations of $185.88 million. During the same quarter in the previous year, the business posted $0.80 EPS. The firm's quarterly revenue was up 22.0% compared to the same quarter last year. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. As a group, analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal 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.