Teacher Retirement System of Texas Lowers Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Teacher Retirement System of Texas trimmed its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,489 shares of the software maker's stock after selling 3,388 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.10% of SPS Commerce worth $4,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vontobel Holding Ltd. increased its holdings in SPS Commerce by 25.7% during the 1st quarter. Vontobel Holding Ltd. now owns 7,370 shares of the software maker's stock worth $978,000 after acquiring an additional 1,509 shares during the period. KBC Group NV increased its holdings 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 acquiring an additional 124 shares during the period. Illinois Municipal Retirement Fund increased its holdings in SPS Commerce by 2.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,600 shares of the software maker's stock worth $3,132,000 after acquiring an additional 535 shares during the period. Legacy Advisors LLC increased its holdings in SPS Commerce by 21.9% during the 1st quarter. Legacy Advisors LLC now owns 3,539 shares of the software maker's stock worth $470,000 after acquiring an additional 636 shares during the period. Finally, Advisor Resource Council bought a new position in shares of SPS Commerce in the 1st quarter worth $439,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPSC. Needham & Company LLC reissued a "buy" rating and issued a $210.00 price target on shares of SPS Commerce in a report on Friday, April 25th. DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald began coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price target on the stock. Finally, Robert W. Baird increased their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $192.56.

SPS Commerce Trading Up 0.3%

NASDAQ SPSC traded up $0.44 on Wednesday, hitting $140.08. The company's stock had a trading volume of 3,923 shares, compared to its average volume of 260,699. SPS Commerce, Inc. has a 52-week low of $120.09 and a 52-week high of $218.61. The company's 50-day simple moving average is $141.42 and its 200 day simple moving average is $149.59. The firm has a market cap of $5.32 billion, a P/E ratio of 65.46 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.85 by $0.15. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The firm had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. During the same period last year, the company posted $0.86 EPS. The company's quarterly revenue was up 21.4% compared to the same quarter last year. On average, research analysts forecast 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.