Trust Point Inc. Decreases Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Trust Point Inc. decreased its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 33.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,869 shares of the software maker's stock after selling 4,962 shares during the period. Trust Point Inc.'s holdings in SPS Commerce were worth $1,310,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPSC. FMR LLC increased its stake in SPS Commerce by 109.7% in the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after buying an additional 742,686 shares during the last quarter. Norges Bank purchased a new stake in SPS Commerce in the 4th quarter valued at about $81,543,000. JPMorgan Chase & Co. increased its stake in SPS Commerce by 99.3% in the 4th quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker's stock valued at $93,286,000 after buying an additional 252,575 shares during the last quarter. Ameriprise Financial Inc. increased its stake in SPS Commerce by 33.4% in the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock valued at $140,882,000 after buying an additional 191,740 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in SPS Commerce in the 4th quarter valued at about $27,441,000. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Trading Down 2.2%

SPS Commerce stock opened at $134.80 on Monday. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 66.08 and a beta of 0.73. The firm has a 50 day simple moving average of $140.03 and a 200 day simple moving average of $156.12.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The business had revenue of $181.55 million during the quarter, compared to analyst estimates of $179.57 million. During the same period in the previous year, the business earned $0.86 EPS. SPS Commerce's revenue was up 21.4% compared to the same quarter last year. On average, equities research analysts forecast 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. Cantor Fitzgerald began coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $170.00 price objective for the company. Robert W. Baird raised 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. Needham & Company LLC restated a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a research note on Friday, April 25th. Finally, DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $192.56.

SPS Commerce Company Profile

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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