State Board of Administration of Florida Retirement System continued to hold its stake in SPS Commerce Inc. (NASDAQ:SPSC) during the second quarter, Holdings Channel reports. The fund owned 10,972 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned approximately 0.06% of SPS Commerce worth $665,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in SPSC. DIAM Co. Ltd. boosted its position in shares of SPS Commerce by 49.2% in the second quarter. DIAM Co. Ltd. now owns 22,383 shares of the company’s stock valued at $1,322,000 after buying an additional 7,379 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of SPS Commerce during the second quarter valued at $5,390,000. Suntrust Banks Inc. bought a new position in shares of SPS Commerce during the second quarter valued at $326,000. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of SPS Commerce during the second quarter valued at $807,000. Finally, Riverbridge Partners LLC boosted its position in shares of SPS Commerce by 5.5% in the second quarter. Riverbridge Partners LLC now owns 814,643 shares of the company’s stock valued at $49,367,000 after buying an additional 42,687 shares during the last quarter.
Shares of SPS Commerce Inc. (NASDAQ:SPSC) traded down 0.33% during midday trading on Friday, hitting $73.41. The stock had a trading volume of 176,141 shares. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 262.18 and a beta of 1.23. SPS Commerce Inc. has a 52 week low of $38.35 and a 52 week high of $78.29. The stock’s 50-day moving average price is $68.17 and its 200 day moving average price is $57.20.
SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $474 million for the quarter, compared to analysts’ expectations of $47.06 million. SPS Commerce had a net margin of 2.73% and a return on equity of 3.84%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities analysts forecast that SPS Commerce Inc. will post $0.98 earnings per share for the current year.
SPSC has been the subject of several analyst reports. Zacks Investment Research cut SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday. First Analysis initiated coverage on SPS Commerce in a report on Monday, September 26th. They issued an “overweight” rating and a $86.00 price objective for the company. Needham & Company LLC raised their price objective on SPS Commerce from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, September 26th. Finally, Pacific Crest initiated coverage on SPS Commerce in a report on Thursday. They issued an “overweight” rating and a $85.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $78.25.
In other news, Director Michael A. Smerklo sold 581 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $65.74, for a total transaction of $38,194.94. Following the transaction, the director now owns 1,340 shares of the company’s stock, valued at approximately $88,091.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Smerklo sold 580 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $67.40, for a total transaction of $39,092.00. Following the transaction, the director now directly owns 760 shares in the company, valued at approximately $51,224. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.
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