SPS Commerce (NASDAQ:SPSC) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research report sent to investors on Friday morning,Benzinga reports. Needham & Company LLC currently has a $230.00 price target on the software maker’s stock.

SPSC has been the topic of several other reports. Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price on the stock. Robert W. Baird lifted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus upped their target price on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $218.00.

SPS Commerce Stock Up 2.2 %

Shares of SPS Commerce stock opened at $186.85 on Friday. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 89.40 and a beta of 0.88. The firm’s 50-day moving average price is $186.00 and its two-hundred day moving average price is $191.39. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, sell-side analysts expect that SPS Commerce will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

Institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its holdings in SPS Commerce by 94.5% during the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after buying an additional 210,284 shares in the last quarter. FMR LLC boosted its holdings in SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after acquiring an additional 104,769 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after purchasing an additional 104,210 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of SPS Commerce by 2,099.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after purchasing an additional 92,381 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in SPS Commerce during the third quarter worth about $17,128,000. 98.96% of the stock is 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.