Banbury Partners LLC boosted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,882 shares of the software maker’s stock after acquiring an additional 28,689 shares during the period. SPS Commerce accounts for about 7.1% of Banbury Partners LLC’s holdings, making the stock its 8th biggest position. Banbury Partners LLC owned approximately 2.97% of SPS Commerce worth $29,029,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Magnetar Financial LLC acquired a new position in SPS Commerce in the 3rd quarter valued at about $203,000. Ruane Cunniff & Goldfarb Inc. increased its position in SPS Commerce by 50.3% in the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 765,318 shares of the software maker’s stock valued at $43,401,000 after acquiring an additional 256,117 shares during the period. OxFORD Asset Management LLP increased its position in SPS Commerce by 26.4% in the 3rd quarter. OxFORD Asset Management LLP now owns 136,585 shares of the software maker’s stock valued at $7,727,000 after acquiring an additional 28,503 shares during the period. Trexquant Investment LP acquired a new position in SPS Commerce in the 3rd quarter valued at about $245,000. Finally, JPMorgan Chase & Co. increased its position in SPS Commerce by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,368 shares of the software maker’s stock valued at $1,550,000 after acquiring an additional 10,327 shares during the period. Hedge funds and other institutional investors own 97.45% of the company’s stock.
SPS Commerce, Inc. (SPSC) opened at $48.34 on Thursday. SPS Commerce, Inc. has a 52-week low of $45.02 and a 52-week high of $73.16. The stock has a market capitalization of $832.62, a P/E ratio of 73.24, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07.
SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. The company had revenue of $56.15 million for the quarter, compared to analysts’ expectations of $56.15 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. research analysts expect that SPS Commerce, Inc. will post 0.59 earnings per share for the current year.
SPS Commerce declared that its board has initiated a stock buyback program on Thursday, November 2nd that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
Several equities analysts recently issued reports on the company. BidaskClub cut SPS Commerce from a “sell” rating to a “strong sell” rating in a research report on Thursday. KeyCorp restated a “hold” rating on shares of SPS Commerce in a research report on Friday, August 25th. Benchmark restated a “sell” rating on shares of SPS Commerce in a research report on Monday, October 30th. Canaccord Genuity dropped their price target on 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, Stifel Nicolaus dropped their price target on SPS Commerce from $75.00 to $68.00 and set a “buy” 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 assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.00.
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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