SPS Commerce (NASDAQ:SPSC) Price Target Cut to $200.00 by Analysts at Stifel Nicolaus

SPS Commerce (NASDAQ:SPSC) had its target price reduced by research analysts at Stifel Nicolaus from $225.00 to $200.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 32.90% from the company’s previous close.

SPSC has been the topic of several other reports. Robert W. Baird decreased their price target on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday. Needham & Company LLC reduced their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler decreased their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup dropped their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday. 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, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC traded down $26.68 on Tuesday, hitting $150.49. The company’s stock had a trading volume of 257,828 shares, compared to its average volume of 221,487. SPS Commerce has a 1 year low of $148.65 and a 1 year high of $218.61. The company has a market capitalization of $5.65 billion, a PE ratio of 72.10 and a beta of 0.88. The company has a 50-day simple moving average of $188.36 and a 200 day simple moving average of $189.93.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. On average, equities research analysts expect that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at $28,864,006.56. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the transaction, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPS Commerce

Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in shares of SPS Commerce by 94.5% in the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after purchasing an additional 210,284 shares during the last quarter. Raymond James Financial Inc. purchased a new position in SPS Commerce in the fourth quarter worth about $27,441,000. Geneva Capital Management LLC lifted its stake in shares of SPS Commerce by 31.1% in the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock worth $107,045,000 after buying an additional 138,014 shares in the last quarter. FMR LLC grew its holdings in shares of SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after buying an additional 104,769 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of SPS Commerce by 69.4% during the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after acquiring an additional 104,210 shares in the last quarter. 98.96% of the stock is owned by institutional investors.

SPS Commerce Company Profile

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.