Illinois Municipal Retirement Fund Increases Holdings in SPS Commerce, Inc. $SPSC

Illinois Municipal Retirement Fund increased its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,435 shares of the software maker’s stock after purchasing an additional 835 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in SPS Commerce were worth $3,325,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in SPS Commerce by 505.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,330,237 shares of the software maker’s stock valued at $177,587,000 after acquiring an additional 1,110,476 shares during the last quarter. Nuveen LLC purchased a new position in shares of SPS Commerce during the first quarter valued at about $37,546,000. Fiera Capital Corp bought a new stake in shares of SPS Commerce in the first quarter worth about $31,311,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of SPS Commerce by 34.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 887,615 shares of the software maker’s stock worth $117,813,000 after buying an additional 225,848 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its position in shares of SPS Commerce by 33.3% in the first quarter. Granahan Investment Management LLC now owns 403,668 shares of the software maker’s stock worth $53,579,000 after buying an additional 100,748 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SPSC. Weiss Ratings cut SPS Commerce from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Stifel Nicolaus restated a “hold” rating and issued a $80.00 price target (down previously from $150.00) on shares of SPS Commerce in a research report on Friday, October 31st. Northland Capmk upgraded shares of SPS Commerce from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. Wall Street Zen cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Citigroup reduced their target price on shares of SPS Commerce from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $106.80.

SPS Commerce Trading Up 0.4%

Shares of NASDAQ:SPSC opened at $82.02 on Thursday. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 37.62 and a beta of 0.71. SPS Commerce, Inc. has a 12 month low of $73.05 and a 12 month high of $201.06. The firm’s 50-day moving average is $103.39 and its 200 day moving average is $122.37.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 30th. The software maker reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.14. The firm had revenue of $189.90 million during the quarter, compared to analyst estimates of $192.68 million. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%.SPS Commerce’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. SPS Commerce has set its FY 2025 guidance at 4.100-4.15 EPS. Q4 2025 guidance at 0.980-1.020 EPS. As a group, equities analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

SPS Commerce Profile

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.