SPS Commerce, Inc. (NASDAQ:SPSC) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 13.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 696,797 shares of the software maker's stock after selling 111,542 shares during the period. Congress Asset Management Co. owned approximately 1.83% of SPS Commerce worth $92,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SPSC. MassMutual Private Wealth & Trust FSB raised its position in SPS Commerce by 126.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock valued at $30,000 after purchasing an additional 125 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of SPS Commerce during the 4th quarter valued at approximately $40,000. Hurley Capital LLC purchased a new stake in SPS Commerce during the 4th quarter valued at $41,000. Blue Trust Inc. raised its holdings in SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock valued at $47,000 after buying an additional 84 shares during the period. Finally, Versant Capital Management Inc lifted its position in SPS Commerce by 4,155.6% in the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock worth $51,000 after buying an additional 374 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on SPSC shares. Cantor Fitzgerald initiated coverage on SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 target price for the company. Needham & Company LLC reissued a "buy" rating and issued a $210.00 price objective on shares of SPS Commerce in a research note on Friday, April 25th. Piper Sandler decreased their target price on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. DA Davidson lowered their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus cut their price target on SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $192.56.

SPS Commerce Stock Performance

SPSC traded up $3.39 on Tuesday, hitting $144.50. The company had a trading volume of 336,116 shares, compared to its average volume of 250,427. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 70.83 and a beta of 0.73. The stock has a fifty day moving average price of $139.31 and a 200-day moving average price of $157.55. SPS Commerce, Inc. has a 12-month low of $120.09 and a 12-month high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. The firm had revenue of $181.55 million for the quarter, compared to the consensus estimate of $179.57 million. During the same period in the previous year, the business earned $0.86 EPS. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. Analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

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.