SPS Commerce, Inc. (SPSC) Shares Bought by BlackRock Inc.
BlackRock Inc. lifted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,011,859 shares of the software maker’s stock after buying an additional 4,449 shares during the quarter. BlackRock Inc. owned approximately 11.68% of SPS Commerce worth $128,276,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC lifted its holdings in shares of SPS Commerce by 1.3% in the second quarter. TIAA CREF Investment Management LLC now owns 67,481 shares of the software maker’s stock worth $4,303,000 after buying an additional 892 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of SPS Commerce by 3.4% in the second quarter. Teachers Advisors LLC now owns 45,243 shares of the software maker’s stock worth $2,885,000 after buying an additional 1,498 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 worth $136,000 after buying an additional 1,131 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of SPS Commerce in the second quarter worth $1,761,000. Finally, Pacad Investment Ltd. purchased a new position in shares of SPS Commerce in the second quarter worth $249,000. 98.27% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on SPSC. Zacks Investment Research downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. KeyCorp reissued a “hold” rating on shares of SPS Commerce in a report on Friday, August 25th. BidaskClub downgraded shares of SPS Commerce from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Oppenheimer Holdings, Inc. set a $74.00 target price on shares of SPS Commerce and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Northland Securities set a $84.00 target price on shares of SPS Commerce and gave the stock a “buy” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. SPS Commerce has a consensus rating of “Hold” and an average price target of $73.00.
Shares of SPS Commerce, Inc. (NASDAQ SPSC) opened at 59.76 on Tuesday. SPS Commerce, Inc. has a 1-year low of $48.11 and a 1-year high of $73.16. The stock has a market cap of $1.03 billion, a P/E ratio of 112.97 and a beta of 1.13. The company’s 50-day moving average is $58.27 and its 200-day moving average is $59.05.
SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. SPS Commerce had a net margin of 4.41% and a return on equity of 4.70%. The company had revenue of $54.30 million for the quarter, compared to analysts’ expectations of $53.74 million. During the same quarter in the previous year, the company posted $0.15 EPS. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Equities analysts expect that SPS Commerce, Inc. will post $0.88 EPS for the current fiscal year.
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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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