SPS Commerce’s (SPSC) “Buy” Rating Reiterated at Needham & Company LLC

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

SPSC has been the subject of a number of other reports. Northland Securities reaffirmed a “market perform” rating and issued a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Piper Sandler dropped their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Citigroup cut their price target on 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $133.50 on Wednesday. SPS Commerce has a 1 year low of $122.58 and a 1 year high of $218.61. The stock has a market cap of $5.04 billion, a P/E ratio of 65.44 and a beta of 0.92. The stock has a 50-day simple moving average of $152.14 and a 200-day simple moving average of $175.51.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. On average, equities research analysts predict that SPS Commerce will post 2.73 EPS for the current year.

Insider Transactions at SPS Commerce

In related news, CFO Kimberly K. Nelson sold 4,034 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.17, for a total value of $597,717.78. Following the completion of the sale, the chief financial officer now directly owns 2,442,968 shares in the company, valued at approximately $361,974,568.56. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the transaction, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This 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 worth $6,613,078 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its position in shares of SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of SPS Commerce in the fourth quarter worth $40,000. Hurley Capital LLC acquired a new stake in SPS Commerce in the fourth quarter valued at $41,000. Blue Trust Inc. boosted its stake in SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after acquiring an additional 84 shares during the last quarter. Finally, R Squared Ltd acquired a new position in SPS Commerce during the 4th quarter worth $57,000. 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.