Summit Global Investments Buys New Position in SPS Commerce, Inc. $SPSC

·15 Aug
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Summit Global Investments initiated a new position in SPS Commerce (NASDAQ:SPSC) during the second quarter, purchasing 14,478 shares valued at approximately $828,000. The software maker exceeded its Q2 earnings and revenue estimates, reporting $1.27 EPS against a $1.09 consensus and revenue of $197.81 million, a 5.6% year-over-year increase. Despite strong institutional ownership at 98.96%, analysts maintain a consensus "Hold" rating with an average price target of $74.60, which is below the stock's current trading price of $79.40.

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