Johnson Investment Counsel Inc. Takes Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Johnson Investment Counsel Inc. bought a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,682 shares of the software maker’s stock, valued at approximately $1,816,000.

Several other large investors have also recently made changes to their positions in SPSC. SBI Securities Co. Ltd. purchased a new position in SPS Commerce during the fourth quarter valued at $40,000. Hurley Capital LLC purchased a new position in shares of SPS Commerce in the 4th quarter worth about $41,000. MassMutual Private Wealth & Trust FSB raised its position in shares of SPS Commerce by 126.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker’s stock worth $30,000 after purchasing an additional 125 shares during the last quarter. Blue Trust Inc. raised its position in shares of SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after purchasing an additional 84 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in SPS Commerce in the fourth quarter worth about $57,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPSC. DA Davidson decreased their target price on shares of SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of SPS Commerce in a report on Friday, April 25th. Cantor Fitzgerald initiated coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 price objective for the company. Finally, Robert W. Baird boosted their price target on SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.56.

SPS Commerce Trading Down 0.5%

Shares of SPSC opened at $133.47 on Friday. The firm has a market cap of $5.07 billion, a PE ratio of 62.37 and a beta of 0.73. The firm has a fifty day simple moving average of $140.34 and a two-hundred day simple moving average of $154.61. SPS Commerce, Inc. has a 1-year low of $120.09 and a 1-year high of $218.61.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. The company had revenue of $181.55 million during the quarter, compared to analysts’ expectations of $179.57 million. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. SPS Commerce’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, research analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

About SPS Commerce

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.