Townsquare Capital LLC Has $7.32 Million Position in 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 reduced its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,147 shares of the software maker's stock after selling 2,662 shares during the quarter. Townsquare Capital LLC owned about 0.15% of SPS Commerce worth $7,320,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SPSC. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of SPS Commerce by 126.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock valued at $30,000 after purchasing an additional 125 shares in the last quarter. Allworth Financial LP lifted its stake in SPS Commerce by 296.6% in the 1st quarter. Allworth Financial LP now owns 234 shares of the software maker's stock valued at $33,000 after acquiring an additional 175 shares in the last quarter. Versant Capital Management Inc lifted its stake in SPS Commerce by 4,155.6% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock valued at $51,000 after acquiring an additional 374 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in SPS Commerce in the 4th quarter valued at approximately $70,000. Finally, Harbor Investment Advisory LLC lifted its stake in SPS Commerce by 35.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 548 shares of the software maker's stock valued at $73,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Down 2.5%

Shares of SPS Commerce stock opened at $106.25 on Friday. The stock has a market cap of $4.03 billion, a P/E ratio of 48.74 and a beta of 0.71. SPS Commerce, Inc. has a 12-month low of $102.05 and a 12-month high of $204.20. The business's 50 day moving average is $133.92 and its 200-day moving average is $140.46.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted 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 business had revenue of $187.40 million for the quarter, compared to analysts' expectations of $185.88 million. During the same quarter in the prior year, the business earned $0.80 EPS. The firm's revenue for the quarter was up 22.0% on a year-over-year basis. On average, sell-side analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPSC. Wall Street Zen upgraded SPS Commerce from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Morgan Stanley cut their target price on SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Robert W. Baird boosted their target price on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Loop Capital cut SPS Commerce from a "buy" rating to a "hold" rating and cut their target price for the company from $175.00 to $120.00 in a research note on Thursday, July 31st. Finally, DA Davidson cut SPS Commerce from a "strong-buy" rating to a "hold" rating and cut their target price for the company from $175.00 to $125.00 in a research note on Thursday, July 31st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.

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