Congress Wealth Management LLC DE Trims Stock Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Congress Wealth Management LLC DE lowered its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,973 shares of the software maker’s stock after selling 5,581 shares during the quarter. Congress Wealth Management LLC DE owned about 0.37% of SPS Commerce worth $25,386,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of SPS Commerce by 94.5% during the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after purchasing an additional 210,284 shares during the period. Raymond James Financial Inc. acquired a new position in SPS Commerce during the fourth quarter worth $27,441,000. Geneva Capital Management LLC boosted its position in shares of SPS Commerce by 31.1% during the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock worth $107,045,000 after buying an additional 138,014 shares during the period. FMR LLC grew its stake in shares of SPS Commerce by 18.3% in the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after buying an additional 104,769 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after buying an additional 104,210 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPSC. Robert W. Baird lowered their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus lowered their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Citigroup dropped their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Northland Securities reiterated a “market perform” rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Finally, Piper Sandler decreased their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Trading Up 1.4 %

Shares of SPSC opened at $130.13 on Monday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 63.79 and a beta of 0.92. The firm’s fifty day simple moving average is $157.25 and its 200-day simple moving average is $177.17. SPS Commerce, Inc. has a twelve month low of $122.58 and a twelve month high of $218.61.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. On average, analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the transaction, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $6,613,078 over the last three months. Insiders own 1.00% of the company’s stock.

SPS Commerce 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.