VIRGINIA RETIREMENT SYSTEMS ET Al Invests $909,000 in SPS Commerce, Inc. $SPSC

Key Points

• Virginia Retirement Systems acquired 15,900 shares of SPS Commerce valued at approximately $909,000 in the second quarter. Institutional investors collectively own 98.96% of the company.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $77.10; recent ratings include six Holds, two Buys, one Strong Buy, and two Sells.
• SPS Commerce exceeded quarterly expectations, reporting $1.27 in earnings per share versus the $1.09 estimate and revenue of $197.81 million. Revenue increased 5.6% year over year, while shares opened at $82.68 and have traded between $49.04 and $114.87 over the past 52 weeks.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 15,900 shares of the software maker's stock, valued at approximately $909,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in SPS Commerce during the second quarter valued at $339,259,000. California State Teachers Retirement System increased its position in SPS Commerce by 6,817.1% in the second quarter. California State Teachers Retirement System now owns 3,059,910 shares of the software maker's stock worth $174,935,000 after buying an additional 3,015,673 shares in the last quarter. State Street Corp increased its position in SPS Commerce by 0.6% in the fourth quarter. State Street Corp now owns 1,468,312 shares of the software maker's stock worth $130,871,000 after buying an additional 8,163 shares in the last quarter. Bank of America Corp DE raised its stake in shares of SPS Commerce by 3.3% in the first quarter. Bank of America Corp DE now owns 998,622 shares of the software maker's stock worth $55,593,000 after buying an additional 31,434 shares during the period. Finally, Jupiter Topco LLC bought a new position in shares of SPS Commerce in the second quarter worth about $56,260,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPSC has been the topic of a number of analyst reports. Stifel Nicolaus set a $70.00 price objective on SPS Commerce and gave the company a "hold" rating in a research report on Friday, July 31st. Zacks Research upgraded shares of SPS Commerce from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Morgan Stanley restated an "underweight" rating and set a $59.00 target price (up from $57.00) on shares of SPS Commerce in a research note on Friday, July 31st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $70.00 price target (up from $60.00) on shares of SPS Commerce in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of SPS Commerce from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $77.10.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $82.68 on Monday. The stock's 50-day simple moving average is $73.04 and its 200-day simple moving average is $62.11. SPS Commerce, Inc. has a 52 week low of $49.04 and a 52 week high of $114.87. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 39.94 and a beta of 0.51.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The software maker reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.18. The firm had revenue of $197.81 million during the quarter, compared to analyst estimates of $195.46 million. SPS Commerce had a return on equity of 13.04% and a net margin of 10.10%.The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. SPS Commerce has set its Q3 2026 guidance at 1.200-1.230 EPS and its FY 2026 guidance at 4.840-4.930 EPS. On average, equities analysts expect that SPS Commerce, Inc. will post 3.56 earnings per share for the current year.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions that help retailers, suppliers, distributors and other trading partners manage commerce operations. Its platform is designed to connect businesses and automate the exchange of critical information across supply chain and retail processes.

The company's products and services support functions including electronic data interchange, order management, inventory and product information management, fulfillment, invoicing, analytics and supplier onboarding.

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