Assenagon Asset Management S.A. Grows Stock Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Assenagon Asset Management S.A. boosted its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 29.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,315 shares of the software maker's stock after acquiring an additional 26,621 shares during the period. Assenagon Asset Management S.A. owned about 0.32% of SPS Commerce worth $22,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norden Group LLC raised its position in shares of SPS Commerce by 2,034.7% during the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker's stock worth $39,138,000 after purchasing an additional 201,764 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of SPS Commerce by 2,099.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker's stock worth $18,211,000 after acquiring an additional 92,381 shares during the last quarter. F M Investments LLC purchased a new stake in shares of SPS Commerce in the second quarter valued at $13,869,000. Hantz Financial Services Inc. acquired a new stake in shares of SPS Commerce during the second quarter valued at $12,876,000. Finally, Vanguard Group Inc. increased its position in SPS Commerce by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker's stock worth $803,798,000 after purchasing an additional 58,525 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Down 10.7 %

Shares of NASDAQ SPSC traded down $20.49 during trading on Friday, hitting $170.49. 636,500 shares of the company traded hands, compared to its average volume of 179,940. The firm has a market capitalization of $6.33 billion, a P/E ratio of 88.80 and a beta of 0.82. The company has a 50-day moving average price of $192.69 and a 200-day moving average price of $190.58. SPS Commerce, Inc. has a 1 year low of $151.96 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. Research analysts predict that SPS Commerce, Inc. will post 2.32 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In related news, Director Sven Wehrwein sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the transaction, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SPSC. DA Davidson upped their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the company a "buy" rating in a report on Friday, July 26th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price objective on shares of SPS Commerce in a research note on Friday. Stifel Nicolaus raised their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday. Robert W. Baird boosted their price target on SPS Commerce from $178.00 to $186.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Finally, Northland Capmk lowered SPS Commerce from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 29th. Five 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $223.38.

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.