Citigroup Issues Pessimistic Forecast for SPS Commerce (NASDAQ:SPSC) Stock Price

SPS Commerce (NASDAQ:SPSC) had its price objective decreased by equities research analysts at Citigroup from $237.00 to $233.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s price target would indicate a potential upside of 18.88% from the company’s current price.

SPSC has been the subject of several other research reports. Robert W. Baird increased 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. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research note on Wednesday, January 15th. Stifel Nicolaus lowered their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, 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 price target for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $219.22.

SPS Commerce Trading Up 1.1 %

NASDAQ SPSC opened at $196.00 on Monday. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 93.78 and a beta of 0.88. The business’s 50 day moving average is $189.92 and its two-hundred day moving average is $191.47. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 5,831 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 owns 23,833 shares in the company, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction 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 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. Insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC grew its holdings in SPS Commerce by 1.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 119,437 shares of the software maker’s stock valued at $21,975,000 after purchasing an additional 1,135 shares during the period. Entropy Technologies LP increased its holdings in shares of SPS Commerce by 52.2% during the 4th quarter. Entropy Technologies LP now owns 2,916 shares of the software maker’s stock worth $537,000 after buying an additional 1,000 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of SPS Commerce by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 21,350 shares of the software maker’s stock worth $3,928,000 after buying an additional 181 shares during the period. E. Ohman J or Asset Management AB boosted its holdings in SPS Commerce by 3.0% in the fourth quarter. E. Ohman J or Asset Management AB now owns 12,810 shares of the software maker’s stock valued at $2,357,000 after acquiring an additional 368 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT grew its position in SPS Commerce by 3.1% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 9,179 shares of the software maker’s stock valued at $1,689,000 after acquiring an additional 275 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

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.