Oppenheimer Asset Management Inc. Sells 10,846 Shares of SPS Commerce, Inc. $SPSC

Oppenheimer Asset Management Inc. reduced its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 30.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,068 shares of the software maker’s stock after selling 10,846 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SPS Commerce were worth $3,412,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its stake in SPS Commerce by 60.6% in the 2nd quarter. UMB Bank n.a. now owns 212 shares of the software maker’s stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of SPS Commerce by 545.7% in the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker’s stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Allworth Financial LP lifted its position in shares of SPS Commerce by 296.6% in the first quarter. Allworth Financial LP now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 175 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of SPS Commerce by 105.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 302 shares of the software maker’s stock worth $40,000 after purchasing an additional 155 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in SPS Commerce by 41.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 316 shares of the software maker’s stock worth $43,000 after purchasing an additional 92 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

SPS Commerce Stock Down 0.9%

Shares of NASDAQ SPSC opened at $109.99 on Wednesday. The business’s 50 day moving average price is $108.97 and its two-hundred day moving average price is $125.88. The company has a market cap of $4.17 billion, a PE ratio of 50.45 and a beta of 0.69. SPS Commerce, Inc. has a twelve month low of $102.05 and a twelve month high of $201.06.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SPSC shares. Cantor Fitzgerald cut their price target on shares of SPS Commerce from $170.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $140.00 target price (down previously from $170.00) on shares of SPS Commerce in a research report on Tuesday, October 14th. Wall Street Zen cut SPS Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Weiss Ratings downgraded SPS Commerce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday. Finally, Stifel Nicolaus dropped their price objective on SPS Commerce from $175.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $153.70.

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.