Assenagon Asset Management S.A. Boosts Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Assenagon Asset Management S.A. lifted its stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 29.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,315 shares of the software maker’s stock after acquiring an additional 26,621 shares during the period. Assenagon Asset Management S.A. owned 0.32% of SPS Commerce worth $22,779,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SPSC. First Bank & Trust purchased a new position in SPS Commerce during the first quarter worth approximately $275,000. Norden Group LLC raised its position in shares of SPS Commerce by 2,034.7% in the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after buying an additional 201,764 shares during the period. AMI Asset Management Corp boosted its holdings in SPS Commerce by 19.7% in the first quarter. AMI Asset Management Corp now owns 18,641 shares of the software maker’s stock valued at $3,447,000 after acquiring an additional 3,067 shares during the last quarter. Van ECK Associates Corp grew its position in SPS Commerce by 36.5% during the first quarter. Van ECK Associates Corp now owns 13,228 shares of the software maker’s stock valued at $2,446,000 after acquiring an additional 3,538 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in SPS Commerce during the first quarter worth about $595,000. 98.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total value of $402,700.00. Following the sale, the director now directly owns 16,212 shares of the company’s stock, valued at $3,264,286.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPSC. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $205.00 to $209.00 in a research note on Monday, July 29th. Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus raised their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson lifted their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Robert W. Baird increased their price target on SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus price target of $223.38.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $170.49 on Friday. SPS Commerce, Inc. has a 1 year low of $151.96 and a 1 year high of $218.74. The stock’s 50-day simple moving average is $192.69 and its 200-day simple moving average is $190.51. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 88.80 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. SPS Commerce’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. As a group, research analysts predict that SPS Commerce, Inc. will post 2.32 EPS for the current year.

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.