Mitsubishi UFJ Asset Management UK Ltd. Sells 5,000 Shares of SPS Commerce, Inc. (NASDAQ:SPSC)

Mitsubishi UFJ Asset Management UK Ltd. lessened its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 71.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the software maker’s stock after selling 5,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in SPS Commerce were worth $265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake 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 valued at $30,000 after acquiring an additional 125 shares during the last quarter. Allworth Financial LP lifted its stake in shares of SPS Commerce by 296.6% in the 1st quarter. Allworth Financial LP now owns 234 shares of the software maker’s stock valued at $33,000 after acquiring an additional 175 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of SPS Commerce by 105.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 302 shares of the software maker’s stock valued at $40,000 after acquiring an additional 155 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of SPS Commerce by 4,155.6% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker’s stock valued at $51,000 after acquiring an additional 374 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in SPS Commerce during the 4th quarter valued at approximately $70,000. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Up 6.3%

SPS Commerce stock opened at $115.35 on Thursday. The company has a market capitalization of $4.37 billion, a P/E ratio of 52.91 and a beta of 0.71. The stock’s 50 day moving average is $131.97 and its 200 day moving average is $139.07. SPS Commerce, Inc. has a twelve month low of $102.05 and a twelve month high of $203.86.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. The company had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. During the same quarter in the prior year, the business posted $0.80 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, equities analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on SPSC. Cantor Fitzgerald began coverage on SPS Commerce in a research report on Tuesday, June 3rd. They set an “overweight” rating and a $170.00 price target for the company. Needham & Company LLC lowered their price target on SPS Commerce from $210.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. Loop Capital lowered SPS Commerce from a “buy” rating to a “hold” rating and lowered their price target for the company from $175.00 to $120.00 in a research report on Thursday, July 31st. Wall Street Zen raised SPS Commerce from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley lowered their price target on SPS Commerce from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.80.

SPS Commerce Company 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.