Amalgamated Bank lowered its position in SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) by 4.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,744 shares of the software maker's stock after selling 816 shares during the period. Amalgamated Bank's holdings in SPS Commerce were worth $2,328,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Standard Family Office LLC purchased a new position in shares of SPS Commerce in the fourth quarter valued at $94,000. Conestoga Capital Advisors LLC increased its position in shares of SPS Commerce by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,832,943 shares of the software maker's stock valued at $240,482,000 after buying an additional 24,504 shares in the last quarter. Mcmorgan & Co. LLC increased its position in shares of SPS Commerce by 2.5% in the fourth quarter. Mcmorgan & Co. LLC now owns 8,305 shares of the software maker's stock valued at $1,182,000 after buying an additional 200 shares in the last quarter. Pembroke Management LTD increased its position in shares of SPS Commerce by 22.7% in the first quarter. Pembroke Management LTD now owns 155,623 shares of the software maker's stock valued at $20,418,000 after buying an additional 28,796 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of SPS Commerce by 437.3% in the first quarter. Quadrant Capital Group LLC now owns 317 shares of the software maker's stock valued at $42,000 after buying an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 99.09% of the company's stock.
Get SPS Commerce alerts:Wall Street Analyst Weigh In
A number of research firms recently commented on SPSC. StockNews.com upgraded SPS Commerce from a "hold" rating to a "buy" rating in a research report on Friday, August 5th. Needham & Company LLC dropped their price objective on SPS Commerce from $200.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, July 21st. Finally, Craig Hallum dropped their price objective on SPS Commerce from $210.00 to $160.00 in a research report on Thursday, July 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, SPS Commerce currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.00.
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 stock was sold at an average price of $132.99, for a total value of $132,990.00. Following the transaction, the director now directly owns 17,684 shares of the company's stock, valued at approximately $2,351,795.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.SPS Commerce Trading Down 1.7 %
Shares of NASDAQ:SPSC opened at $117.45 on Friday. The stock's 50-day moving average price is $122.98 and its two-hundred day moving average price is $118.27. SPS Commerce, Inc. has a 12-month low of $96.41 and a 12-month high of $174.42. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 91.76 and a beta of 0.76.
SPS Commerce (NASDAQ:SPSC – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.04. SPS Commerce had a return on equity of 10.61% and a net margin of 11.46%. The firm had revenue of $109.18 million for the quarter, compared to analyst estimates of $108.95 million. During the same period last year, the company earned $0.30 EPS. The firm's quarterly revenue was up 15.5% on a year-over-year basis. As a group, research analysts forecast that SPS Commerce, Inc. will post 1.5 earnings per share for the current fiscal year.
SPS Commerce Company 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.
Further Reading
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