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

Assenagon Asset Management S.A. cut its holdings in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 72.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,124 shares of the software maker's stock after selling 134,220 shares during the period. Assenagon Asset Management S.A. owned about 0.14% of SPS Commerce worth $6,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in SPS Commerce by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker's stock valued at $88,576,000 after purchasing an additional 16,272 shares during the period. Mutual of America Capital Management LLC raised its position in shares of SPS Commerce by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 5,690 shares of the software maker's stock worth $1,047,000 after acquiring an additional 110 shares during the period. Van ECK Associates Corp raised its position in shares of SPS Commerce by 35.7% in the fourth quarter. Van ECK Associates Corp now owns 29,919 shares of the software maker's stock worth $5,505,000 after acquiring an additional 7,871 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of SPS Commerce in the fourth quarter worth about $628,000. Finally, Vanguard Group Inc. raised its position in shares of SPS Commerce by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock worth $852,032,000 after acquiring an additional 67,687 shares during the period. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Stock Down 2.2%

Shares of SPS Commerce stock traded down $3.09 during mid-day trading on Friday, hitting $134.80. The stock had a trading volume of 276,522 shares, compared to its average volume of 254,939. The firm has a 50-day moving average of $140.03 and a two-hundred day moving average of $156.37. SPS Commerce, Inc. has a 12-month low of $120.09 and a 12-month high of $218.61. The firm has a market cap of $5.12 billion, a P/E ratio of 66.08 and a beta of 0.73.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.85 by $0.15. The firm had revenue of $181.55 million for the quarter, compared to analyst estimates of $179.57 million. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Sell-side analysts expect that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SPSC. Robert W. Baird upped their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research report on Friday, April 25th. Cantor Fitzgerald started coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 target price for the company. Finally, DA Davidson cut their target price on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.56.

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.