SPS Commerce, Inc. $SPSC Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its holdings in SPS Commerce, Inc. by 77.9%, now owning 154,129 shares valued at approximately $20.98 million after selling 542,668 shares in the second quarter.
• SPS Commerce reported a 22% year-over-year increase in revenue, totaling $187.4 million for the latest quarter, and surpassed analysts' earnings expectations with an EPS of $1.00.
• Analysts have mixed ratings on the stock, with five upgrading to a "buy" and five holding, reflecting a consensus rating of "Moderate Buy" and an average price target of $162.30.

Congress Asset Management Co. lessened its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 77.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,129 shares of the software maker's stock after selling 542,668 shares during the quarter. Congress Asset Management Co. owned 0.41% of SPS Commerce worth $20,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SPSC. Conestoga Capital Advisors LLC lifted its stake in SPS Commerce by 0.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker's stock valued at $167,264,000 after buying an additional 11,590 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of SPS Commerce by 34.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 887,615 shares of the software maker's stock worth $117,813,000 after buying an additional 225,848 shares during the last quarter. Northern Trust Corp raised its position in SPS Commerce by 0.7% in the first quarter. Northern Trust Corp now owns 513,370 shares of the software maker's stock valued at $68,140,000 after purchasing an additional 3,329 shares during the period. Charles Schwab Investment Management Inc. raised its position in SPS Commerce by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 483,654 shares of the software maker's stock valued at $64,195,000 after purchasing an additional 2,238 shares during the period. Finally, Granahan Investment Management LLC raised its position in SPS Commerce by 33.3% in the first quarter. Granahan Investment Management LLC now owns 403,668 shares of the software maker's stock valued at $53,579,000 after purchasing an additional 100,748 shares during the period. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Stock Performance

Shares of SPSC opened at $106.32 on Friday. The company has a 50-day simple moving average of $114.27 and a 200-day simple moving average of $129.30. The firm has a market capitalization of $4.03 billion, a P/E ratio of 48.77 and a beta of 0.70. SPS Commerce, Inc. has a 52 week low of $102.05 and a 52 week high of $201.06.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.10. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The business had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. The firm's revenue for the quarter was up 22.0% on a year-over-year basis. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. As a group, equities analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPSC has been the subject of a number of research reports. Stifel Nicolaus decreased their price target on SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price objective on shares of SPS Commerce in a research report on Wednesday. Cantor Fitzgerald lowered their price target on shares of SPS Commerce from $170.00 to $135.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Morgan Stanley lowered their price target on shares of SPS Commerce from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average price target of $162.30.

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.

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