Congress Asset Management Co. Has $148.73 Million Stake in SPS Commerce, Inc. (NASDAQ:SPSC)

Congress Asset Management Co. cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 808,339 shares of the software maker's stock after selling 32,904 shares during the quarter. SPS Commerce accounts for 1.0% of Congress Asset Management Co.'s holdings, making the stock its 21st largest position. Congress Asset Management Co. owned 2.15% of SPS Commerce worth $148,726,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock worth $34,000 after purchasing an additional 100 shares during the period. R Squared Ltd bought a new position in shares of SPS Commerce during the fourth quarter worth approximately $57,000. Signaturefd LLC increased its holdings in shares of SPS Commerce by 26.0% during the third quarter. Signaturefd LLC now owns 334 shares of the software maker's stock worth $65,000 after purchasing an additional 69 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in shares of SPS Commerce by 1,358.3% during the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker's stock worth $68,000 after purchasing an additional 326 shares during the period. 98.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPSC. Piper Sandler decreased their price objective 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. Needham & Company LLC decreased their price objective 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. Robert W. Baird decreased their price objective 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. Stifel Nicolaus decreased their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Citigroup decreased their price objective 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, SPS Commerce currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.11.

SPS Commerce Stock Up 0.3 %

Shares of NASDAQ SPSC traded up $0.47 during midday trading on Wednesday, reaching $146.68. 423,766 shares of the company were exchanged, compared to its average volume of 287,874. The stock's 50-day moving average price is $183.99 and its 200-day moving average price is $187.82. The stock has a market cap of $5.51 billion, a P/E ratio of 71.90 and a beta of 0.88. SPS Commerce, Inc. has a one year low of $143.39 and a one year high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. On average, equities research analysts anticipate that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Insider Transactions at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction on Wednesday, December 18th. The stock was 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 owns 23,833 shares in the company, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,230 shares of company stock worth $6,379,187. Company insiders own 1.00% of the company's stock.

SPS Commerce Company 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.