Crossmark Global Holdings Inc. grew its position in SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,389 shares of the software maker's stock after purchasing an additional 119 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in SPS Commerce were worth $445,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nicholas Company Inc. raised its holdings in shares of SPS Commerce by 4.3% in the 1st quarter. Nicholas Company Inc. now owns 56,970 shares of the software maker's stock valued at $7,474,000 after purchasing an additional 2,360 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of SPS Commerce by 7.7% in the 1st quarter. State of Tennessee Treasury Department now owns 22,308 shares of the software maker's stock valued at $2,926,000 after purchasing an additional 1,604 shares in the last quarter. Raymond James & Associates raised its holdings in shares of SPS Commerce by 2.0% in the 1st quarter. Raymond James & Associates now owns 105,776 shares of the software maker's stock valued at $13,878,000 after purchasing an additional 2,106 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SPS Commerce by 33.3% in the 1st quarter. JPMorgan Chase & Co. now owns 84,491 shares of the software maker's stock valued at $11,085,000 after purchasing an additional 21,119 shares in the last quarter. Finally, Wealth Alliance acquired a new stake in shares of SPS Commerce in the 1st quarter valued at $211,000. 99.09% of the stock is currently owned by institutional investors and hedge funds.
Get SPS Commerce alerts:Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of SPS Commerce from a "hold" rating to a "buy" rating in a report on Friday, August 5th. Craig Hallum dropped their target price on shares of SPS Commerce from $210.00 to $160.00 in a research report on Thursday, July 28th. Finally, Needham & Company LLC dropped their target price on shares of SPS Commerce from $200.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, SPS Commerce currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.50.
SPS Commerce Stock Performance
Shares of SPS Commerce stock opened at $122.12 on Thursday. SPS Commerce, Inc. has a 1 year low of $96.41 and a 1 year high of $174.42. The company has a market capitalization of $4.40 billion, a P/E ratio of 95.41 and a beta of 0.77. The company's fifty day moving average is $119.59 and its two-hundred day moving average is $118.92.SPS Commerce (NASDAQ:SPSC – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. SPS Commerce had a net margin of 11.46% and a return on equity of 10.61%. The company had revenue of $109.18 million for the quarter, compared to the consensus estimate of $108.95 million. During the same period last year, the firm posted $0.30 EPS. SPS Commerce's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities analysts expect that SPS Commerce, Inc. will post 1.5 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Sven Wehrwein sold 1,000 shares of SPS Commerce stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $132.99, for a total value of $132,990.00. Following the sale, the director now owns 17,684 shares of the company's stock, valued at $2,351,795.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.
SPS Commerce Profile
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SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.
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