Assenagon Asset Management S.A. Makes New $2.20 Million Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

Assenagon Asset Management S.A. purchased a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,889 shares of the software maker's stock, valued at approximately $2,198,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in SPS Commerce by 10.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker's stock worth $114,000 after acquiring an additional 56 shares during the period. Arkadios Wealth Advisors boosted its position in SPS Commerce by 1.7% during the 4th quarter. Arkadios Wealth Advisors now owns 3,789 shares of the software maker's stock worth $734,000 after acquiring an additional 64 shares during the period. Wealth Alliance boosted its position in SPS Commerce by 4.4% during the 4th quarter. Wealth Alliance now owns 1,674 shares of the software maker's stock worth $324,000 after acquiring an additional 71 shares during the period. Parkside Financial Bank & Trust boosted its position in SPS Commerce by 8.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,051 shares of the software maker's stock worth $179,000 after acquiring an additional 79 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of SPS Commerce by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 29,603 shares of the software maker's stock worth $5,051,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

SPS Commerce Trading Down 2.4 %

Shares of SPS Commerce stock traded down $4.78 on Tuesday, reaching $194.64. 138,067 shares of the company were exchanged, compared to its average volume of 177,652. The stock has a fifty day moving average price of $180.65 and a 200-day moving average price of $182.47. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 106.36 and a beta of 0.81. SPS Commerce, Inc. has a fifty-two week low of $151.63 and a fifty-two week high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.20. The company had revenue of $149.58 million for the quarter, compared to analyst estimates of $146.50 million. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. On average, equities analysts anticipate that SPS Commerce, Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Activity at SPS Commerce

In related news, COO James J. Frome sold 2,901 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total transaction of $531,811.32. Following the transaction, the chief operating officer now directly owns 54,029 shares of the company's stock, valued at $9,904,596.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO James J. Frome sold 2,901 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total transaction of $531,811.32. Following the transaction, the chief operating officer now directly owns 54,029 shares of the company's stock, valued at $9,904,596.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kimberly K. Nelson sold 5,965 shares of the business's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total value of $1,092,609.05. Following the completion of the transaction, the chief financial officer now owns 147,553 shares in the company, valued at approximately $27,027,283.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,589 shares of company stock valued at $3,208,168. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Redburn Atlantic assumed coverage on SPS Commerce in a research note on Tuesday, May 14th. They issued a "buy" rating and a $220.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and issued a $205.00 price objective on shares of SPS Commerce in a research note on Friday, May 10th. Robert W. Baird boosted their price objective on SPS Commerce from $172.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, April 26th. William Blair reissued a "market perform" rating on shares of SPS Commerce in a research note on Thursday, April 25th. Finally, StockNews.com downgraded SPS Commerce from a "buy" rating to a "hold" rating in a research note on Friday, March 15th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce has a consensus rating of "Moderate Buy" and a consensus target price of $200.25.

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.

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