Assenagon Asset Management S.A. Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Assenagon Asset Management S.A. grew its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 58.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 186,344 shares of the software maker's stock after buying an additional 69,029 shares during the period. Assenagon Asset Management S.A. owned approximately 0.50% of SPS Commerce worth $34,285,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in SPS Commerce by 209.6% during the third quarter. Barclays PLC now owns 66,387 shares of the software maker's stock valued at $12,890,000 after purchasing an additional 44,946 shares during the period. AXA S.A. lifted its stake in SPS Commerce by 19.4% in the 2nd quarter. AXA S.A. now owns 29,391 shares of the software maker's stock worth $5,530,000 after purchasing an additional 4,784 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in SPS Commerce during the 3rd quarter valued at approximately $3,178,000. Synovus Financial Corp bought a new stake in SPS Commerce in the third quarter worth $1,809,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of SPS Commerce by 448.2% in the 2nd quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker's stock worth $6,295,000 after purchasing an additional 27,376 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC traded down $0.42 during trading on Friday, hitting $191.00. 307,676 shares of the company were exchanged, compared to its average volume of 205,234. The company has a fifty day moving average price of $188.03 and a 200-day moving average price of $191.31. SPS Commerce, Inc. has a 12-month low of $160.58 and a 12-month high of $218.74. The firm has a market capitalization of $7.18 billion, a PE ratio of 91.39 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. Research analysts anticipate that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 23,833 shares in the company, valued at approximately $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chadwick Collins sold 6,839 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stifel Nicolaus cut their target price on SPS Commerce from $250.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Robert W. Baird upped their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of SPS Commerce in a report on Wednesday. Finally, Piper Sandler initiated coverage on shares of SPS Commerce in a research note on Monday, November 25th. They issued a "neutral" rating and a $198.00 target price for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $218.00.

SPS Commerce 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.