Conestoga Capital Advisors LLC Sells 220,535 Shares of SPS Commerce, Inc. (SPSC)

Conestoga Capital Advisors LLC lessened its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 38.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 353,666 shares of the software maker’s stock after selling 220,535 shares during the quarter. Conestoga Capital Advisors LLC owned approximately 2.05% of SPS Commerce worth $20,056,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SPSC. Victory Capital Management Inc. raised its position in SPS Commerce by 83.4% in the 1st quarter. Victory Capital Management Inc. now owns 2,003 shares of the software maker’s stock valued at $117,000 after buying an additional 911 shares during the last quarter. Riverhead Capital Management LLC raised its position in SPS Commerce by 113.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock valued at $136,000 after buying an additional 1,131 shares during the last quarter. Pinebridge Investments L.P. raised its position in SPS Commerce by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock valued at $145,000 after buying an additional 24 shares during the last quarter. State of Alaska Department of Revenue raised its position in SPS Commerce by 78.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,396 shares of the software maker’s stock valued at $216,000 after buying an additional 1,496 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in SPS Commerce by 1.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,890 shares of the software maker’s stock valued at $228,000 after buying an additional 70 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $56.15 million during the quarter, compared to the consensus estimate of $56.15 million. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. SPS Commerce’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share.

A number of equities research analysts recently issued reports on SPSC shares. KeyCorp reissued a “hold” rating on shares of SPS Commerce in a research report on Friday, August 25th. ValuEngine downgraded SPS Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Oppenheimer Holdings, Inc. started coverage on SPS Commerce in a research note on Thursday, July 20th. They issued an “outperform” rating and a $74.00 price target for the company. Benchmark Co. restated a “sell” rating on shares of SPS Commerce in a research note on Monday. Finally, Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $69.78.

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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.

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

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