SPS Commerce, Inc. (NASDAQ:SPSC) Given Average Recommendation of “Moderate Buy” by Brokerages

SPS Commerce, Inc. (NASDAQ:SPSC) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $219.22.

Several equities analysts recently weighed in on the company. Stifel Nicolaus lowered their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Robert W. Baird lifted their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a report on Wednesday, January 15th. Citigroup lowered their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Piper Sandler assumed coverage on shares of SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company.

SPS Commerce Trading Up 0.7 %

Shares of SPSC stock opened at $184.68 on Friday. The company has a 50 day simple moving average of $189.93 and a two-hundred day simple moving average of $191.26. The stock has a market cap of $6.94 billion, a P/E ratio of 88.36 and a beta of 0.88. SPS Commerce has a 12 month low of $160.58 and a 12 month high of $218.74.

Insider Buying and Selling at SPS Commerce

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

Institutional Trading of SPS Commerce

Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in SPS Commerce by 209.6% during the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after acquiring an additional 44,946 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of SPS Commerce in the 3rd quarter valued at approximately $3,178,000. Synovus Financial Corp bought a new position in shares of SPS Commerce during the 3rd quarter valued at approximately $1,809,000. JPMorgan Chase & Co. raised its holdings in SPS Commerce by 69.4% during the 3rd 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 during the period. Finally, State Street Corp lifted its position in SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after buying an additional 16,357 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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.