Congress Asset Management Co. Raises Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Congress Asset Management Co. lifted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 841,243 shares of the software maker’s stock after purchasing an additional 1,091 shares during the period. SPS Commerce comprises about 1.1% of Congress Asset Management Co.’s holdings, making the stock its 12th largest holding. Congress Asset Management Co. owned about 2.24% of SPS Commerce worth $163,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. increased its stake in shares of SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after buying an additional 128 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of SPS Commerce in the 2nd quarter valued at $30,000. Blue Trust Inc. increased its holdings in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of SPS Commerce during the 1st quarter worth about $60,000. Finally, DT Investment Partners LLC acquired a new stake in shares of SPS Commerce during the 2nd quarter worth about $63,000. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the sale, 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 through this hyperlink. Insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

NASDAQ:SPSC traded down $3.28 during trading hours on Thursday, reaching $165.70. 22,375 shares of the company traded hands, compared to its average volume of 180,891. The firm’s 50-day moving average is $191.74 and its 200-day moving average is $190.76. The stock has a market cap of $6.23 billion, a P/E ratio of 80.85 and a beta of 0.82. SPS Commerce, Inc. has a 1-year low of $157.48 and a 1-year high of $218.74.

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

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of recent research reports. DA Davidson lifted their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Robert W. Baird lifted their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus upped their price target on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $205.00 to $209.00 in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $223.63.

About SPS Commerce

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.