Congress Asset Management Co. Has $148.73 Million Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Congress Asset Management Co. lessened its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 3.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 808,339 shares of the software maker’s stock after selling 32,904 shares during the period. SPS Commerce accounts for about 1.0% of Congress Asset Management Co.’s portfolio, making the stock its 21st largest position. Congress Asset Management Co. owned approximately 2.15% of SPS Commerce worth $148,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of SPS Commerce by 1.1% during the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after acquiring an additional 16,357 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of SPS Commerce by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock valued at $242,437,000 after acquiring an additional 21,170 shares during the period. Geode Capital Management LLC lifted its position in shares of SPS Commerce by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock valued at $182,287,000 after acquiring an additional 14,174 shares during the period. FMR LLC lifted its position in shares of SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after acquiring an additional 104,769 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in SPS Commerce by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock valued at $90,317,000 after purchasing an additional 8,186 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Analyst Ratings Changes

SPSC has been the subject of a number of recent research reports. Needham & Company LLC decreased their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Northland Securities restated a “market perform” rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Robert W. Baird decreased their price target on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Piper Sandler decreased their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Activity at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares in the company, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is owned by company insiders.

SPS Commerce Stock Performance

SPSC opened at $146.21 on Friday. The firm has a market cap of $5.49 billion, a P/E ratio of 69.96 and a beta of 0.88. The firm has a 50-day moving average of $184.98 and a 200 day moving average of $188.45. SPS Commerce, Inc. has a fifty-two week low of $145.90 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. Equities research analysts predict that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.

SPS Commerce Company 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.