Renaissance Technologies LLC Reduces Position in SPS Commerce, Inc. (SPSC)
Renaissance Technologies LLC lowered its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 12.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 50,900 shares of the software maker’s stock after selling 7,400 shares during the period. Renaissance Technologies LLC’s holdings in SPS Commerce were worth $2,977,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in SPS Commerce by 6.0% in the first quarter. Vanguard Group Inc. now owns 899,374 shares of the software maker’s stock worth $52,604,000 after buying an additional 51,243 shares during the last quarter. FMR LLC boosted its stake in SPS Commerce by 33.6% in the first quarter. FMR LLC now owns 850,300 shares of the software maker’s stock worth $49,734,000 after buying an additional 214,000 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its stake in SPS Commerce by 10.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 722,485 shares of the software maker’s stock worth $42,258,000 after buying an additional 70,356 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in SPS Commerce by 4.3% in the first quarter. Conestoga Capital Advisors LLC now owns 677,911 shares of the software maker’s stock worth $39,651,000 after buying an additional 28,223 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in SPS Commerce by 561.4% in the first quarter. Citadel Advisors LLC now owns 166,514 shares of the software maker’s stock worth $9,739,000 after buying an additional 141,337 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.
SPS Commerce, Inc. (SPSC) traded up 0.83% during trading on Friday, reaching $57.37. The company’s stock had a trading volume of 46,491 shares. The company has a market cap of $987.97 million, a P/E ratio of 108.45 and a beta of 1.20. SPS Commerce, Inc. has a 52 week low of $48.11 and a 52 week high of $74.85. The company’s 50 day moving average price is $60.12 and its 200 day moving average price is $59.17.
SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. SPS Commerce had a net margin of 4.41% and a return on equity of 4.70%. The business had revenue of $54.30 million during the quarter, compared to the consensus estimate of $53.74 million. During the same period last year, the business posted $0.15 EPS. SPS Commerce’s revenue was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that SPS Commerce, Inc. will post $0.88 earnings per share for the current fiscal year.
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SPSC has been the subject of a number of research reports. Oppenheimer Holdings, Inc. initiated coverage on SPS Commerce in a research report on Thursday, July 20th. They set an “outperform” rating and a $74.00 price objective for the company. Needham & Company LLC cut their target price on SPS Commerce from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, April 28th. Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Wednesday, August 2nd. BidaskClub upgraded SPS Commerce from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Finally, Northland Securities set a $84.00 target price on SPS Commerce and gave the company a “buy” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. SPS Commerce has an average rating of “Buy” and a consensus price target of $75.50.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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