SPS Commerce, Inc. (NASDAQ:SPSC) Stake Lifted by Congress Asset Management Co.

Congress Asset Management Co. raised its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 0.1% in the third quarter, HoldingsChannel reports. The firm owned 841,243 shares of the software maker’s stock after acquiring an additional 1,091 shares during the period. SPS Commerce makes up 1.1% of Congress Asset Management Co.’s investment portfolio, making the stock its 12th largest position. Congress Asset Management Co.’s holdings in SPS Commerce were worth $163,344,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in SPS Commerce by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 13,228 shares of the software maker’s stock valued at $2,446,000 after purchasing an additional 3,538 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of SPS Commerce during the first quarter worth $595,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SPS Commerce by 36.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 204,042 shares of the software maker’s stock valued at $37,727,000 after purchasing an additional 54,600 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of SPS Commerce by 15.9% in the 1st quarter. BNP Paribas Financial Markets now owns 38,749 shares of the software maker’s stock valued at $7,165,000 after purchasing an additional 5,306 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in SPS Commerce by 18.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,388 shares of the software maker’s stock worth $442,000 after purchasing an additional 377 shares in the last quarter. Institutional investors own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the transaction, the director now directly owns 16,212 shares in the company, valued at $3,264,286.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

SPSC stock traded down $3.28 on Thursday, reaching $165.70. 22,375 shares of the company were exchanged, compared to its average volume of 180,891. SPS Commerce, Inc. has a 12 month low of $157.48 and a 12 month high of $218.74. The stock’s fifty day moving average price is $191.74 and its 200 day moving average price is $190.76. The firm has a market capitalization of $6.23 billion, a PE ratio of 80.85 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, research analysts expect that SPS Commerce, Inc. will post 2.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on SPSC shares. Stifel Nicolaus raised their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Craig Hallum lifted their price target on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, July 26th. DA Davidson raised their price objective on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Robert W. Baird upped their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $223.63.

SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.