Analyst Ratings and Hedge Fund Activity for SPS Commerce and Progyny

SPS Commerce (NASDAQ:SPSC) received a consensus "Hold" rating from eleven analysts, with an average twelve‑month price objective of $74.60. Recent rating actions included a neutral rating and $70 target from Cantor Fitzgerald, a hold rating from Zacks, and an underweight rating with a $59 target from Morgan Stanley. Hedge funds added positions in the second quarter, including Summit Global Investments ($828,000), Walleye Capital ($10.31 million), Mirabella Financial Services ($630,000), Long Path Partners ($10.34 million) and Swiss Life Asset Management ($325,000). The stock opened at $72.63, down 2.2%, and the company has a market capitalization of $2.61 billion, a PE ratio of 35.09 and a beta of 0.53.

Progyny (NASDAQ:PGNY) saw Segall Bryant & Hamill LLC increase its stake by 68.4% in the first quarter, holding 82,198 shares worth about $1.4 million (0.10% of the company). Other investors added smaller positions, including Caitong International, Hantz Financial Services, Quarry LP, the Canada Pension Plan Investment Board and New Age Alpha Advisors. Institutional investors now own 94.93% of the stock. Analyst coverage gave Progyny a consensus "Moderate Buy" rating with a target price of $33.25, after upgrades such as an "outperform" from Citigroup, a "buy" with a $31 target from Bank of America, and a "buy" with a $40 target from BTIG Research.