Assenagon Asset Management S.A. Sells 134,220 Shares of 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% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,124 shares of the software maker's stock after selling 134,220 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of SPS Commerce worth $6,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in SPS Commerce by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock valued at $852,032,000 after acquiring an additional 67,687 shares in the last quarter. FMR LLC raised its stake in SPS Commerce by 109.7% in the fourth quarter. FMR LLC now owns 1,419,831 shares of the software maker's stock valued at $261,235,000 after buying an additional 742,686 shares during the period. Ameriprise Financial Inc. raised its stake in SPS Commerce by 33.4% in the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker's stock valued at $140,882,000 after acquiring an additional 191,740 shares during the period. Geneva Capital Management LLC raised its position in shares of SPS Commerce by 31.1% in the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker's stock valued at $107,045,000 after purchasing an additional 138,014 shares during the period. Finally, Northern Trust Corp lifted its position in SPS Commerce by 11.3% during the fourth quarter. Northern Trust Corp now owns 510,041 shares of the software maker's stock worth $93,842,000 after acquiring an additional 51,839 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Stock Performance

Shares of SPS Commerce stock traded down $0.26 on Wednesday, reaching $134.10. 118,710 shares of the company's stock were exchanged, compared to its average volume of 255,010. The company has a market capitalization of $5.09 billion, a P/E ratio of 62.60 and a beta of 0.73. SPS Commerce, Inc. has a 52 week low of $120.09 and a 52 week high of $218.61. The firm's 50-day moving average is $140.26 and its two-hundred day moving average is $155.56.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The business had revenue of $181.55 million during the quarter, compared to analysts' expectations of $179.57 million. During the same period last year, the company posted $0.86 earnings per share. The business's quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.