SPS Commerce (NASDAQ:SPSC) Reaches New 12-Month Low on Disappointing Earnings

SPS Commerce, Inc. (NASDAQ:SPSC) hit a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $156.11 and last traded at $150.08, with a volume of 59796 shares changing hands. The stock had previously closed at $177.17.

The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup reduced their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Stifel Nicolaus decreased their target price on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler dropped their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday. Northland Securities reissued a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday. Finally, Robert W. Baird dropped their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of the 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 owns 22,570 shares in the company, valued at $4,167,776.20. This represents a 30.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,230 shares of company stock valued at $6,379,187 in the last three months. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SPS Commerce

A number of hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation N.A. grew its holdings in shares of SPS Commerce by 18.6% during the 4th quarter. Zions Bancorporation N.A. now owns 16,122 shares of the software maker’s stock worth $2,966,000 after purchasing an additional 2,531 shares in the last quarter. EFG Asset Management North America Corp. raised its position in shares of SPS Commerce by 59.1% in the 4th quarter. EFG Asset Management North America Corp. now owns 19,371 shares of the software maker’s stock valued at $3,567,000 after buying an additional 7,193 shares in the last quarter. Summit Creek Advisors LLC lifted its holdings in shares of SPS Commerce by 7.9% during the 4th quarter. Summit Creek Advisors LLC now owns 127,150 shares of the software maker’s stock worth $23,394,000 after acquiring an additional 9,293 shares during the period. Vanguard Group Inc. boosted its position in shares of SPS Commerce by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker’s stock worth $852,032,000 after acquiring an additional 67,687 shares in the last quarter. Finally, LPL Financial LLC increased its stake in SPS Commerce by 13.0% in the fourth quarter. LPL Financial LLC now owns 46,561 shares of the software maker’s stock valued at $8,674,000 after acquiring an additional 5,353 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Price Performance

The firm’s 50-day simple moving average is $187.58 and its 200 day simple moving average is $189.54. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 73.07 and a beta of 0.88.

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.