California Public Employees Retirement System increased its stake in SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,754 shares of the software maker’s stock after acquiring an additional 273 shares during the period. California Public Employees Retirement System owned approximately 0.22% of SPS Commerce worth $10,595,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SPSC. Geneva Capital Management LLC acquired a new stake in SPS Commerce during the first quarter valued at approximately $32,030,000. Congress Wealth Management LLC DE acquired a new stake in SPS Commerce during the fourth quarter valued at approximately $23,249,000. Riverbridge Partners LLC lifted its stake in SPS Commerce by 10.2% during the first quarter. Riverbridge Partners LLC now owns 971,524 shares of the software maker’s stock valued at $127,464,000 after purchasing an additional 89,681 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in SPS Commerce by 9.7% during the first quarter. Congress Asset Management Co. MA now owns 1,010,339 shares of the software maker’s stock valued at $132,556,000 after purchasing an additional 89,021 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in SPS Commerce by 14.2% during the fourth quarter. Bank of America Corp DE now owns 300,525 shares of the software maker’s stock valued at $42,779,000 after purchasing an additional 37,400 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.
SPS Commerce Stock Up 1.2 %
SPSC stock opened at $131.23 on Friday. SPS Commerce, Inc. has a 12-month low of $96.41 and a 12-month high of $174.42. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 102.52 and a beta of 0.77. The company has a 50 day moving average of $111.64 and a two-hundred day moving average of $118.10.
SPS Commerce (NASDAQ:SPSC – Get Rating) last released its earnings results on Wednesday, July 27th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. SPS Commerce had a net margin of 11.46% and a return on equity of 10.61%. The company had revenue of $109.18 million during the quarter, compared to the consensus estimate of $108.95 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that SPS Commerce, Inc. will post 1.5 EPS for the current year.
Analyst Upgrades and Downgrades
SPSC has been the subject of several recent research reports. StockNews.com raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a research note on Friday. Needham & Company LLC cut their target price on shares of SPS Commerce from $200.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. Finally, Craig Hallum reduced their price target on shares of SPS Commerce from $210.00 to $160.00 in a research report on Thursday, July 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.50.
SPS Commerce Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.
Read More
Receive News & Ratings for SPS Commerce Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SPS Commerce and related companies with MarketBeat.com’s FREE daily email newsletter.
