Texas Permanent School Fund grew its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 95.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,743 shares of the software maker’s stock after acquiring an additional 11,585 shares during the quarter. Texas Permanent School Fund’s holdings in SPS Commerce were worth $1,118,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in SPS Commerce by 4.0% in the 2nd quarter. BlackRock Inc. now owns 2,818,530 shares of the software maker’s stock worth $288,083,000 after buying an additional 107,560 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of SPS Commerce by 99.1% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,310,333 shares of the software maker’s stock worth $61,677,000 after purchasing an additional 652,097 shares during the period. Vanguard Group Inc. grew its stake in shares of SPS Commerce by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,264,958 shares of the software maker’s stock worth $129,292,000 after purchasing an additional 42,752 shares during the period. Riverbridge Partners LLC grew its stake in shares of SPS Commerce by 98.1% during the 3rd quarter. Riverbridge Partners LLC now owns 954,044 shares of the software maker’s stock worth $44,907,000 after purchasing an additional 472,516 shares during the period. Finally, Portsea Asset Management LLP grew its stake in shares of SPS Commerce by 5.7% during the 2nd quarter. Portsea Asset Management LLP now owns 433,832 shares of the software maker’s stock worth $44,342,000 after purchasing an additional 23,351 shares during the period. Hedge funds and other institutional investors own 56.13% of the company’s stock.
A number of equities research analysts have recently commented on SPSC shares. First Analysis raised shares of SPS Commerce from an “outperform” rating to a “strong-buy” rating in a research note on Friday, October 25th. BidaskClub raised shares of SPS Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, October 26th. Oppenheimer set a $61.00 price objective on shares of SPS Commerce and gave the stock a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Thursday, September 26th. Finally, Canaccord Genuity dropped their price objective on shares of SPS Commerce to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $58.72.
Shares of NASDAQ:SPSC traded up $0.23 during midday trading on Tuesday, reaching $54.69. 227,000 shares of the company’s stock traded hands, compared to its average volume of 278,013. SPS Commerce, Inc. has a 1 year low of $37.92 and a 1 year high of $59.14. The company has a market cap of $1.87 billion, a P/E ratio of 89.66, a PEG ratio of 3.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.52 and a current ratio of 4.52. The company has a fifty day simple moving average of $49.45 and a two-hundred day simple moving average of $82.81.
SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. SPS Commerce had a return on equity of 9.80% and a net margin of 11.67%. The firm had revenue of $70.90 million for the quarter, compared to analyst estimates of $70.09 million. During the same quarter last year, the firm posted $0.52 EPS. The business’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts forecast that SPS Commerce, Inc. will post 0.92 EPS for the current fiscal year.
About SPS Commerce
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.
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