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

Assenagon Asset Management S.A. boosted its stake in SPS Commerce, Inc. (NASDAQ:SPSC) by 58.8% during the 4th quarter, Holdings Channel reports. The firm owned 186,344 shares of the software maker’s stock after buying an additional 69,029 shares during the quarter. Assenagon Asset Management S.A.’s holdings in SPS Commerce were worth $34,285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPSC. Commonwealth Equity Services LLC lifted its position in shares of SPS Commerce by 10.3% in the second quarter. Commonwealth Equity Services LLC now owns 2,493 shares of the software maker’s stock worth $469,000 after buying an additional 232 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in SPS Commerce by 0.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 220,341 shares of the software maker’s stock worth $41,459,000 after acquiring an additional 2,060 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SPS Commerce by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after acquiring an additional 12,552 shares in the last quarter. Wealth Alliance boosted its position in shares of SPS Commerce by 10.0% during the 2nd quarter. Wealth Alliance now owns 1,855 shares of the software maker’s stock valued at $349,000 after acquiring an additional 169 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of SPS Commerce by 12.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,681 shares of the software maker’s stock valued at $1,069,000 after purchasing an additional 629 shares in the last quarter. Institutional investors own 98.96% of the company’s stock.

Insider Buying and Selling

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the transaction, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SPSC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Wednesday. Robert W. Baird upped their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Stifel Nicolaus dropped their price target on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Piper Sandler assumed coverage on SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.00.

SPS Commerce Stock Performance

SPSC opened at $191.42 on Friday. The stock’s 50 day moving average price is $188.03 and its 200-day moving average price is $191.31. SPS Commerce, Inc. has a one year low of $160.58 and a one year high of $218.74. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 91.59 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same quarter in the prior year, the company posted $0.53 EPS. SPS Commerce’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, analysts predict that SPS Commerce, Inc. will post 2.38 earnings per share for the current fiscal 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.