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.
View Our Latest Report on SPS Commerce
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
(
Free Report)
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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