Citigroup Inc. decreased its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,398 shares of the software maker’s stock after selling 1,003 shares during the quarter. Citigroup Inc. owned approximately 0.08% of SPS Commerce worth $917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pinebridge Investments L.P. lifted its holdings in SPS Commerce by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock valued at $145,000 after buying an additional 24 shares in the last quarter. Menta Capital LLC bought a new stake in SPS Commerce during the 2nd quarter valued at about $787,000. Thrivent Financial For Lutherans lifted its holdings in SPS Commerce by 7.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,370 shares of the software maker’s stock valued at $661,000 after buying an additional 680 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in SPS Commerce by 1.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 67,481 shares of the software maker’s stock valued at $4,303,000 after buying an additional 892 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in SPS Commerce by 3.4% during the 2nd quarter. Teachers Advisors LLC now owns 45,243 shares of the software maker’s stock valued at $2,885,000 after buying an additional 1,498 shares in the last quarter. Institutional investors own 98.27% of the company’s stock.

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SPSC has been the subject of a number of research analyst reports. KeyCorp reiterated a “hold” rating on shares of SPS Commerce in a report on Friday, August 25th. ValuEngine lowered shares of SPS Commerce from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Oppenheimer Holdings, Inc. initiated coverage on shares of SPS Commerce in a report on Thursday, July 20th. They set an “outperform” rating and a $74.00 price objective for the company. Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of SPS Commerce from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. SPS Commerce currently has a consensus rating of “Hold” and a consensus target price of $73.00.

SPS Commerce, Inc. (NASDAQ:SPSC) opened at 58.03 on Friday. The firm’s 50-day moving average is $58.55 and its 200-day moving average is $58.96. SPS Commerce, Inc. has a 52-week low of $48.11 and a 52-week high of $73.16. The stock has a market cap of $999.33 million, a P/E ratio of 109.70 and a beta of 1.13.

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

SPS Commerce Company Profile

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

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