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

Needham & Company LLC reissued their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research report report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $210.00 price target on the software maker’s stock.

A number of other research firms also recently commented on SPSC. Northland Securities reiterated a “market perform” rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Robert W. Baird lowered their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler dropped their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus reduced their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Citigroup dropped their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Stock Up 0.5 %

NASDAQ:SPSC opened at $135.65 on Wednesday. The firm’s fifty day simple moving average is $155.43 and its 200-day simple moving average is $176.44. The stock has a market cap of $5.12 billion, a PE ratio of 66.50 and a beta of 0.92. SPS Commerce has a fifty-two week low of $122.58 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last issued its 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 12.27% and a net margin of 12.08%. Equities analysts anticipate that SPS Commerce will post 2.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the transaction, the chief financial officer now directly owns 156,292 shares in the company, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock valued at $6,613,078 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SPS Commerce

A number of large investors have recently bought and sold shares of SPSC. Advisors Asset Management Inc. grew its stake in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares during the period. SBI Securities Co. Ltd. purchased a new stake in SPS Commerce during the fourth quarter valued at about $40,000. Hurley Capital LLC acquired a new stake in SPS Commerce during the fourth quarter worth about $41,000. Blue Trust Inc. raised its holdings in shares of SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after purchasing an additional 84 shares during the period. Finally, R Squared Ltd acquired a new position in shares of SPS Commerce in the 4th quarter valued at about $57,000. 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.