Envestnet Asset Management Inc. grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,635 shares of the software maker’s stock after buying an additional 16,274 shares during the period. Envestnet Asset Management Inc. owned 0.40% of SPS Commerce worth $18,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of SPSC. CWM LLC grew its holdings in shares of SPS Commerce by 151.8% in the first quarter. CWM LLC now owns 214 shares of the software maker’s stock valued at $28,000 after purchasing an additional 129 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of SPS Commerce by 153.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 274 shares of the software maker’s stock valued at $39,000 after purchasing an additional 166 shares in the last quarter. Standard Family Office LLC purchased a new position in shares of SPS Commerce in the fourth quarter valued at $94,000. First Horizon Advisors Inc. grew its holdings in shares of SPS Commerce by 602.4% in the fourth quarter. First Horizon Advisors Inc. now owns 892 shares of the software maker’s stock valued at $126,000 after purchasing an additional 765 shares in the last quarter. Finally, Leverty Financial Group LLC purchased a new position in shares of SPS Commerce in the fourth quarter valued at $168,000. Institutional investors own 98.45% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on SPSC shares. StockNews.com lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Craig Hallum cut their target price on shares of SPS Commerce from $210.00 to $160.00 in a report on Thursday, July 28th. Finally, Needham & Company LLC dropped their price objective 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.50.
SPS Commerce Stock Up 3.6 %
SPS Commerce (NASDAQ:SPSC – Get Rating) last issued its earnings results on Wednesday, July 27th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $109.18 million during the quarter, compared to analyst estimates of $108.95 million. SPS Commerce had a net margin of 11.46% and a return on equity of 10.61%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities research analysts anticipate that SPS Commerce, Inc. will post 1.5 EPS for the current year.
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.
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