Synovus Financial Corp Buys 9,826 Shares of SPS Commerce, Inc. $SPSC

Key Points

• Synovus Financial Corp increased its stake in SPS Commerce by 104.2%, acquiring an additional 9,826 shares, bringing its total holdings to 19,256 shares valued at approximately $2.56 million.
• A variety of institutional investors have made significant changes to their holdings in SPS Commerce, with 98.96% of the stock being owned by institutional investors as of recent filings.
• SPS Commerce's recent earnings report exceeded expectations, with earnings per share of $1.00 compared to a consensus estimate of $0.90, and revenue rose by 22% year-over-year.

Synovus Financial Corp grew its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 104.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,256 shares of the software maker's stock after buying an additional 9,826 shares during the period. Synovus Financial Corp owned approximately 0.05% of SPS Commerce worth $2,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of SPS Commerce by 11.8% during 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 last quarter. KBC Group NV lifted its position in shares of 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 purchasing an additional 124 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of SPS Commerce during the 1st quarter worth about $1,045,000. First Trust Advisors LP lifted its position in shares of SPS Commerce by 202.0% during the 4th quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock worth $1,046,000 after purchasing an additional 3,801 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of SPS Commerce by 7.4% during the 1st quarter. LPL Financial LLC now owns 50,015 shares of the software maker's stock worth $6,487,000 after purchasing an additional 3,454 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPSC shares. Morgan Stanley cut their price objective on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Cantor Fitzgerald started coverage on SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price objective for the company. Stifel Nicolaus cut their price objective on SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Wall Street Zen cut SPS Commerce from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Loop Capital cut SPS Commerce from a "buy" rating to a "hold" rating and cut their price objective for the stock from $175.00 to $120.00 in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Stock Performance

Shares of SPSC stock traded down $2.01 during trading hours on Thursday, hitting $110.93. The company had a trading volume of 338,745 shares, compared to its average volume of 562,660. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 50.89 and a beta of 0.71. SPS Commerce, Inc. has a 12 month low of $102.05 and a 12 month high of $203.86. The firm's fifty day moving average is $126.49 and its 200 day moving average is $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 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%.The firm had revenue of $187.40 million for the quarter, compared to analysts' expectations of $185.88 million. During the same period in the prior year, the business posted $0.80 earnings per share. The business's 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. On average, sell-side analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

About SPS Commerce

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.