SPS Commerce, Inc. $SPSC Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC has reduced its stake in SPS Commerce, Inc. by 12.5%, owning approximately 1.37% of the company post-sale.
• Equities analysts have varied opinions, with Needham & Company reaffirming a "buy" rating" and a $160 target price, while Loop Capital downgraded the shares from a "buy" to a "hold" rating.
• SPS Commerce reported $1.00 earnings per share for the last quarter, exceeding the consensus estimate of $0.90, and showed a year-over-year revenue increase of 22%.

Riverbridge Partners LLC lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 518,420 shares of the software maker's stock after selling 74,284 shares during the quarter. Riverbridge Partners LLC owned approximately 1.37% of SPS Commerce worth $70,552,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in SPS Commerce by 60.6% during the second quarter. UMB Bank n.a. now owns 212 shares of the software maker's stock worth $29,000 after purchasing an additional 80 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in SPS Commerce by 126.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock worth $30,000 after purchasing an additional 125 shares during the period. NewEdge Advisors LLC raised its stake in SPS Commerce by 545.7% during the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker's stock worth $30,000 after purchasing an additional 191 shares during the period. Allworth Financial LP raised its stake in SPS Commerce by 296.6% during the first quarter. Allworth Financial LP now owns 234 shares of the software maker's stock worth $33,000 after purchasing an additional 175 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in SPS Commerce by 105.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 302 shares of the software maker's stock worth $40,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 98.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price target on shares of SPS Commerce in a research note on Wednesday. Morgan Stanley cut their target price on shares of SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen raised shares of SPS Commerce from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Loop Capital downgraded shares of SPS Commerce from a "buy" rating to a "hold" rating and cut their target price for the company from $175.00 to $120.00 in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald cut their target price on shares of SPS Commerce from $170.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.30.

SPS Commerce Price Performance

SPS Commerce stock opened at $107.49 on Thursday. SPS Commerce, Inc. has a 12-month low of $102.05 and a 12-month high of $201.06. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 49.31 and a beta of 0.70. The firm's fifty day moving average price is $115.67 and its 200 day moving average price is $129.58.

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 (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The firm had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm's quarterly revenue was up 22.0% on a year-over-year basis. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. Analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share 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.

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