State of Tennessee Treasury Department Purchases 22,270 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

State of Tennessee Treasury Department grew its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 144.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,646 shares of the software maker’s stock after buying an additional 22,270 shares during the quarter. State of Tennessee Treasury Department’s holdings in SPS Commerce were worth $1,772,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation N.A. lifted its stake in shares of SPS Commerce by 6.2% in the second quarter. Zions Bancorporation N.A. now owns 2,205 shares of the software maker’s stock worth $225,000 after buying an additional 128 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in SPS Commerce in the second quarter valued at $498,000. Louisiana State Employees Retirement System lifted its holdings in SPS Commerce by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the software maker’s stock valued at $696,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in SPS Commerce by 3.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 7,088 shares of the software maker’s stock valued at $724,000 after acquiring an additional 246 shares during the period. Finally, Toth Financial Advisory Corp acquired a new stake in SPS Commerce in the second quarter valued at $483,000. Institutional investors own 54.44% of the company’s stock.

SPS Commerce stock traded up $0.37 during midday trading on Monday, reaching $54.18. 218 shares of the company were exchanged, compared to its average volume of 278,940. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 88.34, a P/E/G ratio of 3.85 and a beta of 0.63. The firm’s 50-day simple moving average is $49.23 and its 200-day simple moving average is $83.29. SPS Commerce, Inc. has a 1 year low of $37.92 and a 1 year high of $59.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.52 and a current ratio of 4.52.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $70.90 million during the quarter, compared to analysts’ expectations of $70.09 million. SPS Commerce had a return on equity of 9.80% and a net margin of 11.67%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, analysts forecast that SPS Commerce, Inc. will post 0.92 EPS for the current fiscal year.

SPSC has been the subject of a number of recent analyst reports. BidaskClub raised SPS Commerce from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, September 26th. First Analysis upgraded SPS Commerce from an “outperform” rating to a “strong-buy” rating in a research report on Friday, October 25th. Oppenheimer set a $61.00 price objective on SPS Commerce and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Canaccord Genuity dropped their price objective on SPS Commerce to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $58.72.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.

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Institutional Ownership by Quarter for SPS Commerce (NASDAQ:SPSC)

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