Northland Securities Reaffirms “Market Perform” Rating for SPS Commerce (NASDAQ:SPSC)

SPS Commerce (NASDAQ:SPSC)‘s stock had its “market perform” rating reaffirmed by equities researchers at Northland Securities in a research report issued on Tuesday,Benzinga reports. They currently have a $181.00 price target on the software maker’s stock, down from their prior price target of $209.00. Northland Securities’ price objective indicates a potential upside of 18.35% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Citigroup decreased their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target for the company. 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 report on Monday, October 28th. Stifel Nicolaus reduced their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Trading Up 0.1 %

Shares of SPSC opened at $152.94 on Tuesday. The company’s 50 day simple moving average is $186.73 and its 200-day simple moving average is $189.28. SPS Commerce has a 12-month low of $147.27 and a 12-month high of $218.61. The firm has a market cap of $5.75 billion, a PE ratio of 73.18 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share 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%. As a group, equities research analysts forecast that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. This represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,230 shares of company stock valued at $6,379,187 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of SPS Commerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC increased its stake in shares of SPS Commerce by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock valued at $3,820,000 after acquiring an additional 54 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of SPS Commerce by 4.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock valued at $256,000 after acquiring an additional 55 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock valued at $237,000 after acquiring an additional 58 shares during the last quarter. Amalgamated Bank increased its stake in shares of SPS Commerce by 0.6% during the 4th quarter. Amalgamated Bank now owns 11,005 shares of the software maker’s stock valued at $2,025,000 after acquiring an additional 61 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of SPS Commerce by 2.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock valued at $449,000 after acquiring an additional 62 shares during the last quarter. 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.