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

Congress Asset Management Co. trimmed its position in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 808,339 shares of the software maker’s stock after selling 32,904 shares during the period. SPS Commerce comprises approximately 1.0% of Congress Asset Management Co.’s holdings, making the stock its 21st biggest holding. Congress Asset Management Co.’s holdings in SPS Commerce were worth $148,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. raised its stake in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. R Squared Ltd purchased a new stake in SPS Commerce in the fourth quarter valued at approximately $57,000. Signaturefd LLC raised its stake in SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in SPS Commerce by 1,358.3% in the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Performance

SPSC stock opened at $146.21 on Friday. The company has a market capitalization of $5.49 billion, a PE ratio of 69.96 and a beta of 0.88. SPS Commerce, Inc. has a one year low of $145.90 and a one year high of $218.61. The company’s 50 day moving average price is $184.98 and its two-hundred day moving average price is $188.45.

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

Wall Street Analysts Forecast Growth

SPSC has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler lowered their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Citigroup lowered their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

Insider Buying and Selling

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,230 shares of company stock valued at $6,379,187 over the last three months. 1.00% of the stock is owned by company insiders.

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.