SPS Commerce, Inc. $SPSC Position Reduced by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 24.1% in the first quarter, HoldingsChannel.com reports. The firm owned 158,384 shares of the software maker’s stock after selling 50,315 shares during the quarter. Lazard Asset Management LLC’s holdings in SPS Commerce were worth $8,817,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Entropy Technologies LP bought a new stake in shares of SPS Commerce in the 1st quarter worth $277,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of SPS Commerce by 92.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 217,277 shares of the software maker’s stock valued at $12,096,000 after buying an additional 104,134 shares during the period. Renaissance Technologies LLC bought a new position in SPS Commerce during the first quarter valued at about $5,531,000. Keebeck Wealth Management boosted its stake in SPS Commerce by 14.7% during the first quarter. Keebeck Wealth Management now owns 5,154 shares of the software maker’s stock valued at $287,000 after buying an additional 661 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in SPS Commerce by 13,031.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 354,538 shares of the software maker’s stock worth $19,737,000 after acquiring an additional 351,838 shares during the period. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Price Performance

Shares of SPSC opened at $69.40 on Thursday. The company has a 50-day moving average of $58.28 and a two-hundred day moving average of $62.47. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 28.92 and a beta of 0.56. SPS Commerce, Inc. has a one year low of $49.04 and a one year high of $141.98.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, April 30th. The software maker reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.13. The firm had revenue of $192.12 million for the quarter, compared to analyst estimates of $192.50 million. SPS Commerce had a return on equity of 12.43% and a net margin of 11.92%.SPS Commerce’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 earnings per share. Analysts anticipate that SPS Commerce, Inc. will post 3.42 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on SPSC. Stifel Nicolaus set a $60.00 price target on shares of SPS Commerce in a research report on Friday, May 1st. Zacks Research upgraded shares of SPS Commerce from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Wall Street Zen cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Cantor Fitzgerald set a $60.00 target price on shares of SPS Commerce and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Needham & Company LLC restated a “buy” rating on shares of SPS Commerce in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.82.

About SPS Commerce

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company’s platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.