SPS Commerce (NASDAQ:SPSC) Sees Strong Trading Volume After Analyst Upgrade

SPS Commerce, Inc. (NASDAQ:SPSC) shares saw strong trading volume on Friday after Stifel Nicolaus raised their price target on the stock from $240.00 to $250.00. Stifel Nicolaus currently has a buy rating on the stock. 241,871 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 177,740 shares.The stock last traded at $175.21 and had previously closed at $190.98.

Other analysts have also recently issued research reports about the stock. Craig Hallum raised their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, July 26th. Northland Capmk lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. DA Davidson boosted their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird raised their price target on SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a report on Friday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $223.38.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Institutional investors and hedge funds have recently made changes to their positions in the business. Mather Group LLC. increased its holdings in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Opal Wealth Advisors LLC purchased a new position in SPS Commerce in the 2nd quarter valued at $30,000. Blue Trust Inc. increased its stake in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. Fidelis Capital Partners LLC purchased a new position in SPS Commerce during the 1st quarter worth $60,000. Finally, DT Investment Partners LLC acquired a new stake in shares of SPS Commerce in the 2nd quarter worth $63,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Down 10.7 %

The company’s fifty day moving average price is $192.69 and its two-hundred day moving average price is $190.58. The firm has a market cap of $6.33 billion, a PE ratio of 88.80 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The company had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, analysts predict that SPS Commerce, Inc. will post 2.32 earnings per share for the current year.

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.