SPS Commerce, Inc. (NASDAQ:SPSC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

SPS Commerce, Inc. (NASDAQ:SPSC) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $220.78.

A number of analysts recently commented on the company. 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 objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Stifel Nicolaus boosted their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th.

SPS Commerce Price Performance

Shares of NASDAQ SPSC opened at $197.14 on Friday. The firm’s 50-day moving average is $187.06 and its two-hundred day moving average is $191.21. The company has a market capitalization of $7.41 billion, a PE ratio of 94.33 and a beta of 0.86. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. SPS Commerce’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. On average, analysts forecast that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. This trade represents a 11.16 % 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 the SEC website. 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 modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of 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 during the period. Advisors Asset Management Inc. lifted its position in SPS Commerce by 129.9% during the third 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 in the last quarter. DT Investment Partners LLC purchased a new stake in SPS Commerce during the second quarter worth approximately $63,000. Signaturefd LLC increased its position in shares of SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after acquiring an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of SPS Commerce by 1,358.3% in the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after acquiring an additional 326 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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.