Congress Asset Management Co. MA grew its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 191.6% in the third quarter, Holdings Channel.com reports. The fund owned 102,600 shares of the software maker’s stock after buying an additional 67,419 shares during the period. Congress Asset Management Co. MA’s holdings in SPS Commerce were worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of SPSC. Conestoga Capital Advisors LLC increased its holdings in shares of SPS Commerce by 99.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,310,333 shares of the software maker’s stock valued at $61,677,000 after acquiring an additional 652,097 shares during the last quarter. Riverbridge Partners LLC increased its holdings in shares of SPS Commerce by 98.1% in the 3rd quarter. Riverbridge Partners LLC now owns 954,044 shares of the software maker’s stock valued at $44,907,000 after acquiring an additional 472,516 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of SPS Commerce in the 2nd quarter valued at approximately $38,976,000. Atria Investments LLC bought a new stake in shares of SPS Commerce in the 2nd quarter valued at approximately $2,959,000. Finally, Summit Creek Advisors LLC increased its holdings in shares of SPS Commerce by 309.4% in the 3rd quarter. Summit Creek Advisors LLC now owns 228,519 shares of the software maker’s stock valued at $10,756,000 after acquiring an additional 172,701 shares during the last quarter. Institutional investors and hedge funds own 54.44% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Canaccord Genuity lowered their price target on SPS Commerce to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. First Analysis upgraded SPS Commerce from an “outperform” rating to a “strong-buy” rating in a report on Friday, October 25th. BidaskClub upgraded SPS Commerce from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. Oppenheimer set a $61.00 price target on SPS Commerce and gave the company a “buy” rating in a report on Friday, October 25th. Finally, ValuEngine downgraded SPS Commerce from a “hold” rating to a “sell” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $58.72.
NASDAQ:SPSC opened at $53.29 on Thursday. SPS Commerce, Inc. has a 12-month low of $37.92 and a 12-month high of $59.14. The firm has a market capitalization of $1.86 billion, a P/E ratio of 87.36, a P/E/G ratio of 3.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.52 and a quick ratio of 4.52. The business has a 50 day simple moving average of $49.00 and a 200 day simple moving average of $83.77.
SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. SPS Commerce had a return on equity of 9.80% and a net margin of 11.67%. The business had revenue of $70.90 million during the quarter, compared to analyst estimates of $70.09 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts anticipate that SPS Commerce, Inc. will post 0.92 EPS for the current fiscal year.
SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.
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