Congress Wealth Management LLC DE Decreases Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Congress Wealth Management LLC DE reduced its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,973 shares of the software maker's stock after selling 5,581 shares during the quarter. Congress Wealth Management LLC DE owned 0.37% of SPS Commerce worth $25,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its position in SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in SPS Commerce in the fourth quarter valued at about $40,000. Blue Trust Inc. raised its holdings in SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after purchasing an additional 84 shares in the last quarter. R Squared Ltd purchased a new stake in shares of SPS Commerce during the fourth quarter valued at about $57,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of SPS Commerce in the 4th quarter valued at about $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Price Performance

NASDAQ:SPSC traded down $0.31 during midday trading on Tuesday, hitting $135.00. The company's stock had a trading volume of 410,084 shares, compared to its average volume of 211,899. SPS Commerce, Inc. has a fifty-two week low of $122.58 and a fifty-two week high of $218.61. The firm has a market cap of $5.10 billion, a P/E ratio of 66.18 and a beta of 0.92. The firm's 50 day moving average is $156.37 and its 200-day moving average is $176.80.

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

Insider Transactions at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the sale, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kimberly K. Nelson sold 4,034 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.17, for a total transaction of $597,717.78. Following the transaction, the chief financial officer now directly owns 2,442,968 shares of the company's stock, valued at approximately $361,974,568.56. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $6,613,078 over the last quarter. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SPSC shares. Piper Sandler decreased their target price on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC decreased their price objective on SPS Commerce from $230.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Northland Securities reissued a "market perform" rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Citigroup reduced their target price on SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Finally, Robert W. Baird lowered their price target on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $207.11.

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.