Townsquare Capital LLC Sells 2,662 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Key Points

• Townsquare Capital LLC has reduced its stake in SPS Commerce, Inc. by 4.6%, now owning approximately 0.15% of the company, valued at $7.32 million.
• SPS Commerce's shares opened at $106.25, representing a market cap of $4.03 billion, but the stock has experienced a 2.5% decline recently.
• Research firms have mixed opinions on SPS Commerce, with ratings ranging from "buy" to "hold," and an average price target set at $165.80.

Townsquare Capital LLC cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,147 shares of the software maker's stock after selling 2,662 shares during the period. Townsquare Capital LLC owned about 0.15% of SPS Commerce worth $7,320,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Journey Strategic Wealth LLC lifted its stake in shares of SPS Commerce by 4.3% in the first quarter. Journey Strategic Wealth LLC now owns 1,919 shares of the software maker's stock valued at $255,000 after buying an additional 79 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of SPS Commerce by 8.3% during the 4th quarter. Hancock Whitney Corp now owns 1,193 shares of the software maker's stock worth $220,000 after acquiring an additional 91 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of SPS Commerce by 7.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,391 shares of the software maker's stock valued at $185,000 after purchasing an additional 96 shares during the period. Synovus Financial Corp boosted its stake in SPS Commerce by 1.2% during the fourth quarter. Synovus Financial Corp now owns 9,430 shares of the software maker's stock valued at $1,735,000 after buying an additional 115 shares during the period. Finally, KBC Group NV raised 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 valued at $219,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Stock Performance

Shares of SPSC traded down $2.37 during mid-day trading on Thursday, reaching $112.98. The stock had a trading volume of 222,658 shares, compared to its average volume of 348,268. The business has a fifty day moving average of $131.97 and a 200 day moving average of $139.07. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 51.82 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.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.90 by $0.10. The business had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. The business's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. On average, research analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Needham & Company LLC reduced their price objective on SPS Commerce from $210.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Robert W. Baird upped their price target on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Cantor Fitzgerald began coverage on SPS Commerce in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price objective for the company. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Loop Capital downgraded SPS Commerce from a "buy" rating to a "hold" rating and cut their price target for the company from $175.00 to $120.00 in a research note on Thursday, July 31st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $165.80.

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.