Neuburgh Advisers LLC cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 54.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,826 shares of the software maker’s stock after selling 2,222 shares during the period. Neuburgh Advisers LLC’s holdings in SPS Commerce were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in SPSC. Legion Partners Asset Management LLC bought a new position in shares of SPS Commerce during the first quarter worth approximately $20,911,000. BlackRock Inc. increased its holdings in shares of SPS Commerce by 10.4% during the second quarter. BlackRock Inc. now owns 2,385,431 shares of the software maker’s stock worth $175,281,000 after purchasing an additional 224,322 shares during the period. FMR LLC increased its holdings in shares of SPS Commerce by 19.8% during the second quarter. FMR LLC now owns 1,218,502 shares of the software maker’s stock worth $89,536,000 after purchasing an additional 201,002 shares during the period. Ancora Advisors LLC bought a new position in shares of SPS Commerce during the first quarter worth approximately $12,795,000. Finally, Stifel Financial Corp bought a new position in shares of SPS Commerce during the first quarter worth approximately $8,860,000. 95.11% of the stock is currently owned by institutional investors.
SPSC has been the topic of several recent research reports. Oppenheimer raised their target price on shares of SPS Commerce from $72.00 to $83.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. Benchmark raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a report on Friday, July 27th. BidaskClub raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of SPS Commerce in a report on Friday, July 27th. Finally, Stifel Nicolaus raised their target price on shares of SPS Commerce from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. SPS Commerce currently has a consensus rating of “Buy” and an average target price of $86.29.
Shares of NASDAQ:SPSC opened at $98.02 on Friday. The company has a market capitalization of $1.69 billion, a P/E ratio of 139.80, a PEG ratio of 4.21 and a beta of 0.77. SPS Commerce, Inc. has a 1 year low of $45.02 and a 1 year high of $98.99.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, July 26th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. The business had revenue of $61.09 million for the quarter, compared to analysts’ expectations of $59.78 million. SPS Commerce had a net margin of 0.61% and a return on equity of 4.25%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. equities analysts anticipate that SPS Commerce, Inc. will post 1.15 EPS for the current fiscal year.
In related news, CEO Archie C. Black sold 10,000 shares of SPS Commerce stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $85.33, for a total value of $853,300.00. Following the transaction, the chief executive officer now directly owns 89,352 shares of the company’s stock, valued at $7,624,406.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James J. Frome sold 3,280 shares of SPS Commerce stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $90.00, for a total transaction of $295,200.00. Following the completion of the transaction, the chief operating officer now directly owns 31,892 shares in the company, valued at $2,870,280. The disclosure for this sale can be found here. Insiders sold 41,495 shares of company stock worth $3,600,600 over the last three months. 2.80% of the stock is currently owned by insiders.
SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
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