Aperio Group LLC lifted its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 41.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 17,137 shares of the software maker’s stock after acquiring an additional 5,052 shares during the period. Aperio Group LLC owned approximately 0.10% of SPS Commerce worth $972,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SPSC. Riverhead Capital Management LLC grew its stake in shares of SPS Commerce by 113.1% during the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock worth $136,000 after acquiring an additional 1,131 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of SPS Commerce by 1.1% during the second quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock worth $145,000 after acquiring an additional 24 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of SPS Commerce by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,358 shares of the software maker’s stock worth $150,000 after acquiring an additional 355 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of SPS Commerce by 78.7% during the second quarter. State of Alaska Department of Revenue now owns 3,396 shares of the software maker’s stock worth $216,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in SPS Commerce by 1.1% in the second quarter. Bank of Montreal Can now owns 3,668 shares of the software maker’s stock valued at $233,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 95.18% of the company’s stock.
A number of brokerages recently commented on SPSC. KeyCorp reiterated a “hold” rating on shares of SPS Commerce in a research report on Friday, August 25th. Canaccord Genuity reiterated a “hold” rating and issued a $65.00 target price on shares of SPS Commerce in a research report on Wednesday, July 26th. ValuEngine lowered SPS Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Wednesday, August 2nd. Finally, BidaskClub upgraded SPS Commerce from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $69.78.
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SPS Commerce, Inc. (NASDAQ:SPSC) opened at $46.63 on Monday. SPS Commerce, Inc. has a twelve month low of $45.02 and a twelve month high of $73.16. The stock has a market capitalization of $803.17, a P/E ratio of 70.65, a price-to-earnings-growth ratio of 3.15 and a beta of 1.07.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. The company had revenue of $56.15 million during the quarter, compared to the consensus estimate of $56.15 million. During the same period in the previous year, the company posted $0.27 earnings per share. SPS Commerce’s revenue for the quarter was up 13.9% on a year-over-year basis. research analysts anticipate that SPS Commerce, Inc. will post 0.59 EPS for the current fiscal year.
SPS Commerce declared that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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