Wells Fargo & Company MN cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,958 shares of the software maker’s stock after selling 8,259 shares during the period. Wells Fargo & Company MN owned about 1.80% of SPS Commerce worth $17,578,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of SPSC. Janus Henderson Group PLC acquired a new stake in SPS Commerce during the 2nd quarter worth approximately $41,711,000. Capital World Investors acquired a new stake in SPS Commerce during the 2nd quarter worth approximately $28,879,000. Southpoint Capital Advisors LP boosted its position in SPS Commerce by 88.0% during the 2nd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the software maker’s stock worth $47,820,000 after buying an additional 351,103 shares during the period. Banbury Partners LLC boosted its position in SPS Commerce by 27.0% during the 2nd quarter. Banbury Partners LLC now owns 483,193 shares of the software maker’s stock worth $30,808,000 after buying an additional 102,720 shares during the period. Finally, Vanguard Group Inc. boosted its position in SPS Commerce by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 963,631 shares of the software maker’s stock worth $61,441,000 after buying an additional 64,257 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.
Several research firms recently commented on SPSC. BidaskClub downgraded shares of SPS Commerce from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, November 1st. Benchmark reiterated a “sell” rating on shares of SPS Commerce in a research report on Monday, October 30th. Canaccord Genuity cut their target price on shares of SPS Commerce from $65.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday, October 27th. Finally, Oppenheimer cut their target price on shares of SPS Commerce from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $68.00.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $56.15 million for the quarter, compared to the consensus estimate of $56.15 million. SPS Commerce had a net margin of 3.97% and a return on equity of 4.25%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 EPS. equities research analysts forecast that SPS Commerce, Inc. will post 0.59 earnings per share for the current year.
SPS Commerce declared that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
SPS Commerce Profile
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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