SPS Commerce (NASDAQ:SPSC) Earns Neutral Rating from Analysts at Piper Sandler

Piper Sandler started coverage on shares of SPS Commerce (NASDAQ:SPSC) in a research note issued to investors on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $198.00 price objective on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $205.00 to $209.00 in a report on Monday, July 29th. Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a report on Friday, October 25th. Stifel Nicolaus upped their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Six equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $220.78.

SPS Commerce Trading Up 2.3 %

Shares of SPSC opened at $193.39 on Monday. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 92.53 and a beta of 0.84. SPS Commerce has a 1-year low of $160.58 and a 1-year high of $218.74. The company’s fifty day simple moving average is $186.64 and its 200 day simple moving average is $191.26.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, research analysts forecast that SPS Commerce will post 2.39 earnings per share for the current year.

Insider Activity

In other news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in SPSC. Mather Group LLC. increased its position in SPS Commerce by 800.0% during the 2nd quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in SPS Commerce during the 2nd quarter worth approximately $30,000. Blue Trust Inc. increased its position in SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Advisors Asset Management Inc. increased its position in SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new position in SPS Commerce during the 2nd quarter worth approximately $63,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.