JPMorgan Chase & Co. lifted its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 60.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,368 shares of the software maker’s stock after purchasing an additional 10,327 shares during the quarter. JPMorgan Chase & Co.’s holdings in SPS Commerce were worth $1,550,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of SPS Commerce by 7.1% during the second quarter. Vanguard Group Inc. now owns 963,631 shares of the software maker’s stock worth $61,441,000 after purchasing an additional 64,257 shares in the last quarter. Southpoint Capital Advisors LP lifted its position in shares of SPS Commerce by 88.0% during the second quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the software maker’s stock worth $47,820,000 after purchasing an additional 351,103 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of SPS Commerce during the second quarter worth about $41,711,000. Banbury Partners LLC lifted its position in shares of SPS Commerce by 27.0% during the second quarter. Banbury Partners LLC now owns 483,193 shares of the software maker’s stock worth $30,808,000 after purchasing an additional 102,720 shares in the last quarter. Finally, Capital World Investors acquired a new stake in shares of SPS Commerce during the second quarter worth about $28,879,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on SPSC shares. Zacks Investment Research cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. ValuEngine cut shares of SPS Commerce from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. BidaskClub cut shares of SPS Commerce from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Oppenheimer reduced their target price on shares of SPS Commerce from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Finally, Stifel Nicolaus reduced their target price on shares of SPS Commerce from $75.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $68.00.
SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm had revenue of $56.15 million for the quarter, compared to analysts’ expectations of $56.15 million. SPS Commerce had a net margin of 3.97% and a return on equity of 4.25%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. research analysts predict that SPS Commerce, Inc. will post 0.59 earnings per share for the current fiscal year.
SPS Commerce declared that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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SPS Commerce Profile
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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