SPS Commerce (NASDAQ:SPSC) Earns Buy Rating from Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $210.00 price target on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 54.14% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Piper Sandler decreased their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus decreased their price objective on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Citigroup reduced their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Northland Securities restated a “market perform” rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Finally, Robert W. Baird cut their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Stock Up 0.4 %

Shares of SPS Commerce stock opened at $136.24 on Wednesday. The firm has a market cap of $5.15 billion, a PE ratio of 66.78 and a beta of 0.92. SPS Commerce has a twelve month low of $122.58 and a twelve month high of $218.61. The business has a 50-day moving average price of $153.29 and a 200 day moving average price of $175.88.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data 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 net margin of 12.08% and a return on equity of 12.27%. On average, sell-side analysts expect that SPS Commerce will post 2.73 EPS for the current year.

Insider Buying and Selling at SPS Commerce

In related news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now owns 156,292 shares in the company, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dan Juckniess sold 2,591 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at $202,429,783.68. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $6,613,078 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

Several institutional investors and hedge funds have recently modified their holdings of SPSC. Advisors Asset Management Inc. grew its position in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in SPS Commerce during the 4th quarter worth approximately $40,000. Hurley Capital LLC acquired a new stake in SPS Commerce during the 4th quarter worth approximately $41,000. Blue Trust Inc. boosted its position in SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after buying an additional 84 shares during the period. Finally, R Squared Ltd acquired a new position in shares of SPS Commerce in the fourth quarter worth $57,000. Hedge funds and other institutional investors 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.