Schwab Charles Investment Management Inc. decreased its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 68,638 shares of the software maker’s stock after selling 2,410 shares during the period. Schwab Charles Investment Management Inc.’s holdings in SPS Commerce were worth $3,893,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in SPS Commerce in the 3rd quarter valued at $125,000. Riverhead Capital Management LLC boosted its stake in SPS Commerce by 113.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock valued at $136,000 after buying an additional 1,131 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in SPS Commerce by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock valued at $145,000 after buying an additional 24 shares in the last quarter. Victory Capital Management Inc. boosted its stake in SPS Commerce by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,358 shares of the software maker’s stock valued at $150,000 after buying an additional 355 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in SPS Commerce in the 2nd quarter valued at $237,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.
SPS Commerce, Inc. (NASDAQ:SPSC) opened at $50.31 on Friday. SPS Commerce, Inc. has a 52-week low of $45.02 and a 52-week high of $72.35. The stock has a market capitalization of $863.02, a price-to-earnings ratio of 102.67, a price-to-earnings-growth ratio of 2.86 and a beta of 1.07.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, October 26th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. The firm had revenue of $56.15 million during the quarter, compared to the consensus estimate of $56.15 million. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities analysts expect that SPS Commerce, Inc. will post 0.59 earnings per share for the current year.
SPS Commerce declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
SPSC has been the topic of several recent analyst reports. Zacks Investment Research lowered SPS Commerce from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Stifel Nicolaus decreased their price target on SPS Commerce from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Oppenheimer decreased their price target on SPS Commerce from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Canaccord Genuity decreased their price target on SPS Commerce from $65.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, October 27th. Finally, Benchmark reaffirmed a “sell” rating on shares of SPS Commerce in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $68.00.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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