Nuveen LLC Takes Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Nuveen LLC bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 282,872 shares of the software maker’s stock, valued at approximately $37,546,000.

Several other hedge funds have also modified their holdings of the stock. Conestoga Capital Advisors LLC lifted its holdings in shares of SPS Commerce by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker’s stock valued at $167,264,000 after purchasing an additional 11,590 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of SPS Commerce by 33.4% during the fourth quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker’s stock valued at $140,882,000 after purchasing an additional 191,740 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of SPS Commerce by 11.3% during the fourth quarter. Northern Trust Corp now owns 510,041 shares of the software maker’s stock valued at $93,842,000 after purchasing an additional 51,839 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in SPS Commerce by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 483,654 shares of the software maker’s stock valued at $64,195,000 after buying an additional 2,238 shares during the period. Finally, Fred Alger Management LLC raised its position in SPS Commerce by 5.6% during the fourth quarter. Fred Alger Management LLC now owns 481,317 shares of the software maker’s stock valued at $88,558,000 after buying an additional 25,414 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Price Performance

Shares of SPSC stock opened at $112.04 on Friday. SPS Commerce, Inc. has a fifty-two week low of $102.05 and a fifty-two week high of $203.86. The stock’s 50-day moving average is $130.79 and its two-hundred day moving average is $137.94. The firm has a market cap of $4.25 billion, a P/E ratio of 51.39 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. The company had revenue of $187.40 million for the quarter, compared to analyst estimates of $185.88 million. During the same period in the prior year, the firm posted $0.80 EPS. The business’s revenue was up 22.0% compared to the same quarter last year. As a group, research analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Needham & Company LLC dropped their price target on SPS Commerce from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Loop Capital lowered SPS Commerce from a “buy” rating to a “hold” rating and dropped their price target for the company from $175.00 to $120.00 in a research report on Thursday, July 31st. Wall Street Zen lowered SPS Commerce from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley dropped their price target on SPS Commerce from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Finally, Stifel Nicolaus dropped their price target on SPS Commerce from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $165.80.

SPS Commerce 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.