State of Tennessee Treasury Department lowered its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,586 shares of the software maker’s stock after selling 1,479 shares during the period. State of Tennessee Treasury Department owned about 0.08% of SPS Commerce worth $660,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in SPSC. Zions Bancorporation acquired a new position in SPS Commerce during the third quarter worth about $117,000. SG Americas Securities LLC acquired a new position in SPS Commerce during the third quarter worth about $125,000. Magnetar Financial LLC acquired a new position in SPS Commerce during the third quarter worth about $203,000. Trexquant Investment LP acquired a new position in SPS Commerce during the third quarter worth about $245,000. Finally, Crossmark Global Holdings Inc. acquired a new position in SPS Commerce during the third quarter worth about $280,000. Institutional investors own 98.26% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of SPS Commerce from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. BidaskClub raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered shares of SPS Commerce from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. Canaccord Genuity cut their price objective on shares of SPS Commerce from $62.00 to $57.00 and set a “hold” rating for the company in a research report on Wednesday, February 7th. Finally, Oppenheimer reissued a “buy” rating and issued a $62.00 price objective on shares of SPS Commerce in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.43.
SPS Commerce, Inc. (NASDAQ SPSC) opened at $62.59 on Friday. The firm has a market cap of $1,080.58, a P/E ratio of -447.07, a PEG ratio of 3.36 and a beta of 0.91. SPS Commerce, Inc. has a 52-week low of $45.02 and a 52-week high of $64.85.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $58.20 million during the quarter, compared to analyst estimates of $57.47 million. SPS Commerce had a negative net margin of 1.11% and a positive return on equity of 2.81%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. research analysts anticipate that SPS Commerce, Inc. will post 0.87 earnings per share for the current fiscal year.
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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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