Riverbridge Partners LLC Trims Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Riverbridge Partners LLC decreased its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 9.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 592,704 shares of the software maker’s stock after selling 58,898 shares during the period. Riverbridge Partners LLC’s holdings in SPS Commerce were worth $78,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in SPS Commerce by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker’s stock worth $852,032,000 after purchasing an additional 67,687 shares during the period. FMR LLC boosted its stake in SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker’s stock valued at $261,235,000 after acquiring an additional 742,686 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in SPS Commerce by 0.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker’s stock valued at $167,264,000 after acquiring an additional 11,590 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of SPS Commerce by 33.4% in the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker’s stock worth $140,882,000 after buying an additional 191,740 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its position in shares of SPS Commerce by 31.1% in the 4th quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock worth $107,045,000 after buying an additional 138,014 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Down 0.2%

Shares of NASDAQ:SPSC opened at $134.09 on Friday. The firm has a market cap of $5.09 billion, a P/E ratio of 62.66 and a beta of 0.73. SPS Commerce, Inc. has a 12 month low of $120.09 and a 12 month high of $218.61. The company’s 50-day moving average price is $140.31 and its two-hundred day moving average price is $155.01.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.15. The firm had revenue of $181.55 million during the quarter, compared to analysts’ expectations of $179.57 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. As a group, equities analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of SPS Commerce in a research report on Friday, April 25th. Cantor Fitzgerald started coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 target price for the company. Robert W. Baird raised their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Finally, DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average price target of $192.56.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.