SPS Commerce (NASDAQ:SPSC – Free Report) had its target price trimmed by Citigroup from $237.00 to $233.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.
Other equities analysts have also issued research reports about the stock. Piper Sandler initiated coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a report on Wednesday, January 15th. Finally, Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, SPS Commerce has an average rating of “Moderate Buy” and an average price target of $219.22.
View Our Latest Stock Report on SPSC
SPS Commerce Trading Up 1.2 %
Insider Activity
In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dan Juckniess sold 5,831 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the sale, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. The trade was a 19.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in shares of SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Advisors Asset Management Inc. grew its position in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after buying an additional 100 shares during the last quarter. R Squared Ltd acquired a new position in SPS Commerce in the fourth quarter worth approximately $57,000. Signaturefd LLC grew its position in SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after buying an additional 69 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in SPS Commerce by 1,358.3% in the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.
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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