SPS Commerce (NASDAQ:SPSC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note published on Friday morning,Benzinga reports. They currently have a $230.00 price objective on the software maker’s stock.

Several other equities analysts also recently commented on SPSC. Stifel Nicolaus upped their price objective on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler began coverage on SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target on the stock. Finally, Robert W. Baird increased their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.00.

SPS Commerce Price Performance

Shares of SPS Commerce stock opened at $186.85 on Friday. The stock has a fifty day moving average price of $186.00 and a 200-day moving average price of $191.39. The firm has a market cap of $7.02 billion, a PE ratio of 89.40 and a beta of 0.88. SPS Commerce has a 1 year low of $160.58 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. As a group, equities analysts anticipate that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a 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 that occurred on 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 owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. State Street Corp grew its position in SPS Commerce by 1.1% during the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after buying an additional 16,357 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of SPS Commerce by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock valued at $242,437,000 after acquiring an additional 21,170 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of SPS Commerce by 1.5% during the third quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock worth $182,287,000 after purchasing an additional 14,174 shares in the last quarter. FMR LLC grew its holdings in shares of SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after purchasing an additional 104,769 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of SPS Commerce by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock worth $93,583,000 after purchasing an additional 12,552 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

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.