Allspring Global Investments Holdings LLC Has $36.88 Million Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Allspring Global Investments Holdings LLC cut its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,019 shares of the software maker’s stock after selling 15,335 shares during the period. Allspring Global Investments Holdings LLC owned 0.53% of SPS Commerce worth $36,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SPSC. Shaker Investments LLC OH raised its stake in shares of SPS Commerce by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock worth $564,000 after buying an additional 50 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of SPS Commerce by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 340,419 shares of the software maker’s stock valued at $64,053,000 after acquiring an additional 22,928 shares during the period. EFG Asset Management North America Corp. boosted its position in shares of SPS Commerce by 13.8% during the second quarter. EFG Asset Management North America Corp. now owns 13,090 shares of the software maker’s stock worth $2,461,000 after purchasing an additional 1,590 shares in the last quarter. Tributary Capital Management LLC increased its position in shares of SPS Commerce by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 81,726 shares of the software maker’s stock valued at $15,378,000 after buying an additional 238 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in SPS Commerce by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the software maker’s stock worth $3,500,000 after buying an additional 400 shares during the period. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. DA Davidson raised their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup upped their target price on shares of SPS Commerce from $213.00 to $222.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $205.00 to $209.00 in a research report on Monday, July 29th. Finally, Redburn Atlantic started coverage on SPS Commerce in a report on Tuesday, May 14th. They set a “buy” rating and a $220.00 price objective for the company. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $220.25.

SPS Commerce Trading Down 0.5 %

Shares of NASDAQ:SPSC traded down $1.02 during trading on Tuesday, hitting $197.38. 3,311 shares of the company were exchanged, compared to its average volume of 176,682. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 108.42 and a beta of 0.85. SPS Commerce, Inc. has a fifty-two week low of $151.96 and a fifty-two week high of $218.74. The firm has a fifty day moving average price of $196.08 and a two-hundred day moving average price of $188.37.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, research analysts predict that SPS Commerce, Inc. will post 2.33 EPS for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the transaction, the director now owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The sale was disclosed in a document filed with the SEC, which is available through this link. In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the completion of the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,675 shares of company stock worth $1,551,735. Insiders own 1.00% of the company’s stock.

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.