Vanguard Group Inc. Raises Stake in SPS Commerce, Inc. (SPSC)

Vanguard Group Inc. grew its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 963,631 shares of the software maker’s stock after purchasing an additional 64,257 shares during the period. Vanguard Group Inc. owned approximately 5.60% of SPS Commerce worth $61,441,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of SPS Commerce by 83.4% in the first quarter. Victory Capital Management Inc. now owns 2,003 shares of the software maker’s stock valued at $117,000 after purchasing an additional 911 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of SPS Commerce by 113.1% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock valued at $136,000 after purchasing an additional 1,131 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of SPS Commerce by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock valued at $145,000 after purchasing an additional 24 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of SPS Commerce by 78.7% in the second quarter. State of Alaska Department of Revenue now owns 3,396 shares of the software maker’s stock valued at $216,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of SPS Commerce by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,890 shares of the software maker’s stock valued at $228,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Several analysts recently issued reports on SPSC shares. Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a report on Wednesday. KeyCorp reiterated a “hold” rating on shares of SPS Commerce in a report on Friday, August 25th. Canaccord Genuity dropped their target price on SPS Commerce from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, October 27th. Benchmark Co. reiterated a “sell” rating on shares of SPS Commerce in a report on Monday. Finally, BidaskClub upgraded SPS Commerce from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Three equities 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 given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $69.78.

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SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. SPS Commerce had a net margin of 3.97% and a return on equity of 4.25%. The business had revenue of $56.15 million for the quarter, compared to analysts’ expectations of $56.15 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year.

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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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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