Piper Sandler Begins Coverage on SPS Commerce (NASDAQ:SPSC)

Piper Sandler began coverage on shares of SPS Commerce (NASDAQ:SPSC) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set a “neutral” rating and a $198.00 price target on the software maker’s stock. Piper Sandler’s target price would indicate a potential upside of 2.42% from the stock’s previous close.

A number of other research firms also recently commented on SPSC. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $205.00 to $209.00 in a report on Monday, July 29th. Robert W. Baird boosted their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a report on Friday, October 25th. Finally, Stifel Nicolaus boosted their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.78.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $193.33 on Monday. SPS Commerce has a 1 year low of $160.58 and a 1 year high of $218.74. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 92.14 and a beta of 0.84. The stock’s 50-day simple moving average is $186.64 and its 200-day simple moving average is $191.25.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts predict that SPS Commerce will post 2.39 EPS for the current year.

Insider Buying and Selling at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in SPSC. Quadrature Capital Ltd acquired a new position in shares of SPS Commerce during the first quarter worth approximately $329,000. BOKF NA boosted its position in shares of SPS Commerce by 89.8% during the first quarter. BOKF NA now owns 1,682 shares of the software maker’s stock worth $310,000 after buying an additional 796 shares during the period. Janus Henderson Group PLC raised its holdings in SPS Commerce by 1.7% during the first quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker’s stock worth $9,117,000 after purchasing an additional 813 shares in the last quarter. Cetera Advisors LLC bought a new stake in SPS Commerce during the first quarter worth approximately $465,000. Finally, Moody National Bank Trust Division raised its holdings in SPS Commerce by 4.8% during the second quarter. Moody National Bank Trust Division now owns 14,255 shares of the software maker’s stock worth $2,682,000 after purchasing an additional 650 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.