Oppenheimer Asset Management Inc. cut its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,697 shares of the software maker’s stock after selling 577 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SPS Commerce were worth $363,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of SPSC. BlackRock Inc. boosted its position in SPS Commerce by 139,789.2% during the first quarter. BlackRock Inc. now owns 2,007,410 shares of the software maker’s stock valued at $117,414,000 after purchasing an additional 2,005,975 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in SPS Commerce during the first quarter valued at approximately $23,331,000. FMR LLC boosted its position in SPS Commerce by 33.6% during the first quarter. FMR LLC now owns 850,300 shares of the software maker’s stock valued at $49,734,000 after purchasing an additional 214,000 shares during the last quarter. Citadel Advisors LLC boosted its position in SPS Commerce by 561.4% during the first quarter. Citadel Advisors LLC now owns 166,514 shares of the software maker’s stock valued at $9,739,000 after purchasing an additional 141,337 shares during the last quarter. Finally, North Run Capital LP acquired a new position in SPS Commerce during the first quarter valued at approximately $7,123,000. 98.27% of the stock is owned by hedge funds and other institutional investors.
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Shares of SPS Commerce, Inc. (NASDAQ SPSC) opened at 58.90 on Monday. SPS Commerce, Inc. has a 52-week low of $48.11 and a 52-week high of $74.85. The firm has a market capitalization of $1.01 billion, a PE ratio of 111.34 and a beta of 1.17. The stock has a 50 day moving average price of $58.98 and a 200-day moving average price of $58.75.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $54.30 million during the quarter, compared to analyst estimates of $53.74 million. SPS Commerce had a return on equity of 4.70% and a net margin of 4.41%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. Equities analysts forecast that SPS Commerce, Inc. will post $0.88 EPS for the current year.
SPSC has been the subject of several recent research reports. BidaskClub raised SPS Commerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Zacks Investment Research cut SPS Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Oppenheimer Holdings, Inc. initiated coverage on SPS Commerce in a research report on Thursday, July 20th. They set an “outperform” rating and a $74.00 price target for the company. CIBC initiated coverage on SPS Commerce in a research report on Friday, July 21st. They set an “outperform” rating and a $74.00 price target for the company. Finally, Canaccord Genuity reissued a “hold” rating and set a $65.00 price target on shares of SPS Commerce in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. SPS Commerce currently has an average rating of “Hold” and an average price target of $75.50.
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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