SPS Commerce (NASDAQ:SPSC) Given New $175.00 Price Target at Robert W. Baird

SPS Commerce (NASDAQ:SPSC) had its target price reduced by Robert W. Baird from $188.00 to $175.00 in a research report report published on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the software maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Northland Securities reissued a “market perform” rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday. Stifel Nicolaus reduced their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Citigroup reduced their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Piper Sandler assumed 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. Finally, Needham & Company LLC reduced their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Stock Performance

SPSC stock opened at $148.50 on Tuesday. The firm has a 50 day moving average price of $186.73 and a 200-day moving average price of $189.28. SPS Commerce has a 52-week low of $147.27 and a 52-week high of $218.61. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 71.05 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. As a group, sell-side analysts forecast that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,230 shares of company stock valued at $6,379,187. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

A number of hedge funds have recently modified their holdings of SPSC. FMR LLC grew its position in shares of SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker’s stock valued at $261,235,000 after acquiring an additional 742,686 shares during the period. Norges Bank bought a new stake in shares of SPS Commerce during the 4th quarter valued at $81,543,000. JPMorgan Chase & Co. grew its position in shares of SPS Commerce by 99.3% during the 4th quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker’s stock valued at $93,286,000 after acquiring an additional 252,575 shares during the period. Franklin Resources Inc. grew its position in shares of SPS Commerce by 94.5% during the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after acquiring an additional 210,284 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of SPS Commerce during the 4th quarter valued at $27,441,000. 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.