SPS Commerce, Inc. (NASDAQ:SPSC) Shares Purchased by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors LLC has increased its stake in SPS Commerce by 10.8%, acquiring an additional 13,678 shares during the 1st quarter.
• SPS Commerce reported $1.00 earnings per share for the last quarter, surpassing analysts' expectations of $0.85 and showing a revenue increase of 21.4% year-over-year.
• Institutional investors hold approximately 98.96% of SPS Commerce's stock, indicating a strong interest from the investment community.

Summit Creek Advisors LLC lifted its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,828 shares of the software maker's stock after acquiring an additional 13,678 shares during the quarter. SPS Commerce accounts for approximately 2.7% of Summit Creek Advisors LLC's portfolio, making the stock its 13th largest holding. Summit Creek Advisors LLC owned about 0.37% of SPS Commerce worth $18,692,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of SPS Commerce by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock valued at $852,032,000 after acquiring an additional 67,687 shares during the last quarter. FMR LLC increased its position in SPS Commerce by 109.7% during the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock worth $261,235,000 after purchasing an additional 742,686 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in 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 worth $167,264,000 after purchasing an additional 11,590 shares during the last quarter. Ameriprise Financial Inc. raised its stake in SPS Commerce by 33.4% during the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock worth $140,882,000 after purchasing an additional 191,740 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of SPS Commerce by 11.3% in the 4th quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock valued at $93,842,000 after purchasing an additional 51,839 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen upgraded SPS Commerce from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Morgan Stanley dropped their price target on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a research note on Thursday. Loop Capital lowered SPS Commerce from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Thursday. DA Davidson dropped their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC reduced their price target 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. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, SPS Commerce has an average rating of "Moderate Buy" and a consensus target price of $170.80.

SPS Commerce Stock Performance

Shares of SPSC traded down $26.37 during midday trading on Thursday, hitting $113.19. 1,048,693 shares of the stock traded hands, compared to its average volume of 331,106. The business's 50 day moving average price is $138.97 and its two-hundred day moving average price is $144.75. The firm has a market capitalization of $4.30 billion, a PE ratio of 52.77 and a beta of 0.71. SPS Commerce, Inc. has a 1-year low of $111.51 and a 1-year high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) 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 analyst estimates of $185.88 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. SPS Commerce's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. As a group, equities research analysts forecast that SPS Commerce, Inc. will post 2.73 EPS 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.