Voya Investment Management LLC Sells 103,377 Shares of SPS Commerce, Inc. $SPSC

Key Points

• Voya Investment Management LLC reduced its stake in SPS Commerce, Inc. by 70.2%, selling 103,377 shares and retaining ownership of 43,952 shares valued at approximately $5.83 million.
• Major institutional investors, including Nuveen LLC and Kayne Anderson Rudnick Investment Management LLC, have also altered their positions, with the latter increasing its stake by 34.1%.
• Analysts have downgraded their ratings for SPS Commerce, with DA Davidson and Loop Capital lowering their price targets significantly, while the stock currently holds a consensus rating of "Moderate Buy".

Voya Investment Management LLC cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 70.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,952 shares of the software maker's stock after selling 103,377 shares during the quarter. Voya Investment Management LLC owned approximately 0.12% of SPS Commerce worth $5,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of SPS Commerce in the first quarter worth about $37,546,000. Fiera Capital Corp purchased a new stake in SPS Commerce in the 1st quarter worth approximately $31,311,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in SPS Commerce by 34.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 887,615 shares of the software maker's stock valued at $117,813,000 after purchasing an additional 225,848 shares during the period. Granahan Investment Management LLC grew its position in shares of SPS Commerce by 33.3% during the 1st quarter. Granahan Investment Management LLC now owns 403,668 shares of the software maker's stock valued at $53,579,000 after purchasing an additional 100,748 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of SPS Commerce by 8,580.7% in the first quarter. GAMMA Investing LLC now owns 59,463 shares of the software maker's stock worth $7,893,000 after purchasing an additional 58,778 shares during the period. Institutional investors own 98.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SPSC shares. Loop Capital lowered SPS Commerce from a "buy" rating to a "hold" rating and dropped their price objective for the company from $175.00 to $120.00 in a research note on Thursday, July 31st. Needham & Company LLC dropped their price target on SPS Commerce from $210.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. DA Davidson lowered SPS Commerce from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $175.00 to $125.00 in a report on Thursday, July 31st. 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 target price on the stock. Finally, Wall Street Zen cut shares of SPS Commerce from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $165.80.

SPS Commerce Stock Down 1.3%

Shares of SPSC traded down $1.46 during trading hours on Friday, hitting $107.19. The company had a trading volume of 736,452 shares, compared to its average volume of 416,078. SPS Commerce, Inc. has a 52-week low of $102.05 and a 52-week high of $201.06. The stock's 50 day moving average price is $117.56 and its 200 day moving average price is $130.06. The firm has a market cap of $4.06 billion, a P/E ratio of 49.17 and a beta of 0.70.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $185.88 million. During the same period last year, the company earned $0.80 EPS. SPS Commerce's revenue for the quarter was up 22.0% compared to the same quarter last year. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. On average, research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

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.