Congress Asset Management Co. MA Lowers Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Congress Asset Management Co. MA cut its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 830,913 shares of the software maker’s stock after selling 17,356 shares during the period. SPS Commerce makes up about 1.3% of Congress Asset Management Co. MA’s holdings, making the stock its 8th largest holding. Congress Asset Management Co. MA’s holdings in SPS Commerce were worth $161,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of SPS Commerce during the 4th quarter valued at $26,000. CVA Family Office LLC bought a new stake in shares of SPS Commerce during the 4th quarter valued at $44,000. Operose Advisors LLC bought a new stake in shares of SPS Commerce during the 3rd quarter valued at $46,000. Parallel Advisors LLC raised its stake in shares of SPS Commerce by 52.9% during the 4th quarter. Parallel Advisors LLC now owns 338 shares of the software maker’s stock valued at $66,000 after purchasing an additional 117 shares during the period. Finally, RiverPark Advisors LLC raised its stake in shares of SPS Commerce by 43.9% during the 4th quarter. RiverPark Advisors LLC now owns 354 shares of the software maker’s stock valued at $69,000 after purchasing an additional 108 shares during the period. 98.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPSC shares. Redburn Atlantic started coverage on SPS Commerce in a research note on Tuesday, May 14th. They issued a “buy” rating and a $220.00 target price on the stock. William Blair restated a “market perform” rating on shares of SPS Commerce in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research note on Friday, May 10th. StockNews.com lowered SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Robert W. Baird upped their target price on SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SPS Commerce has an average rating of “Moderate Buy” and a consensus price target of $200.25.

Insider Activity at SPS Commerce

In related news, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the sale, the director now directly owns 14,728 shares in the company, valued at approximately $2,855,759.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

SPS Commerce Trading Up 0.2 %

Shares of SPSC traded up $0.36 during midday trading on Friday, reaching $184.13. The stock had a trading volume of 152,494 shares, compared to its average volume of 141,544. The company’s 50-day moving average is $183.29 and its 200 day moving average is $184.34. SPS Commerce, Inc. has a 12-month low of $151.96 and a 12-month high of $218.74. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 100.62 and a beta of 0.83.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. The firm had revenue of $149.58 million during the quarter, compared to analysts’ expectations of $146.50 million. Research analysts forecast that SPS Commerce, Inc. will post 2.23 EPS for the current fiscal year.

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.