Oppenheimer Asset Management Inc. acquired a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,274 shares of the software maker’s stock, valued at approximately $367,000.

Several other hedge funds have also bought and sold shares of the stock. Bank of Montreal Can boosted its position in SPS Commerce by 0.6% in the first quarter. Bank of Montreal Can now owns 3,627 shares of the software maker’s stock worth $212,000 after buying an additional 23 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of SPS Commerce by 3.3% in the first quarter. State of Alaska Department of Revenue now owns 1,900 shares of the software maker’s stock worth $111,000 after buying an additional 60 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of SPS Commerce by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,890 shares of the software maker’s stock worth $228,000 after buying an additional 70 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of SPS Commerce by 1.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,042 shares of the software maker’s stock worth $294,000 after buying an additional 81 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of SPS Commerce by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the software maker’s stock worth $409,000 after buying an additional 200 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

SPS Commerce, Inc. (SPSC) traded up 1.80% on Thursday, hitting $58.80. The stock had a trading volume of 291,892 shares. SPS Commerce, Inc. has a 52 week low of $48.11 and a 52 week high of $74.85. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 108.89 and a beta of 1.20. The firm has a 50-day moving average of $60.97 and a 200 day moving average of $59.67.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $54.30 million during the quarter, compared to analyst estimates of $53.74 million. SPS Commerce had a net margin of 4.41% and a return on equity of 4.70%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. On average, analysts predict that SPS Commerce, Inc. will post $0.88 earnings per share for the current year.

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A number of brokerages have recently issued reports on SPSC. BidaskClub cut shares of SPS Commerce from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Canaccord Genuity reaffirmed a “hold” rating and issued a $65.00 price target on shares of SPS Commerce in a research note on Wednesday, July 26th. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Benchmark Co. downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Finally, CIBC began coverage on SPS Commerce in a research note on Friday, July 21st. They set an “outperform” rating and a $74.00 target price for the company. One research 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. The company has a consensus rating of “Buy” and an average 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.

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

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