SPS Commerce (NASDAQ:SPSC) Cut to Market Perform at Northland Securities

SPS Commerce (NASDAQ:SPSC) was downgraded by Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, MarketBeat.com reports.

Several other equities research analysts have also recently issued reports on the company. Robert W. Baird lifted their target price on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a report on Friday. Craig Hallum upped their price objective on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus raised their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday. Citigroup lifted their price objective on shares of SPS Commerce from $213.00 to $222.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, William Blair restated a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.25.

SPS Commerce Stock Up 1.6 %

NASDAQ SPSC opened at $209.00 on Monday. SPS Commerce has a twelve month low of $151.96 and a twelve month high of $218.74. The business has a 50-day moving average price of $192.15 and a 200-day moving average price of $186.22. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 114.21 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. Research analysts expect that SPS Commerce will post 2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Philip Soran sold 3,285 shares of SPS Commerce stock in a transaction on Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the completion of the sale, the director now directly owns 18,852 shares in the company, valued at $3,771,531.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the sale, the director now owns 14,728 shares of the company’s stock, valued at $2,855,759.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip Soran sold 3,285 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $200.06, for a total value of $657,197.10. Following the transaction, the director now directly owns 18,852 shares in the company, valued at $3,771,531.12. The disclosure for this sale can be found here. Insiders have sold a total of 12,242 shares of company stock worth $2,422,377 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in SPS Commerce by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock valued at $803,798,000 after purchasing an additional 58,525 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in SPS Commerce by 2.4% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,227,411 shares of the software maker’s stock worth $230,950,000 after acquiring an additional 28,970 shares during the period. Congress Asset Management Co. MA grew its stake in SPS Commerce by 1.5% during the 1st quarter. Congress Asset Management Co. MA now owns 843,310 shares of the software maker’s stock valued at $155,928,000 after purchasing an additional 12,397 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of SPS Commerce by 2.9% in the first quarter. William Blair Investment Management LLC now owns 597,662 shares of the software maker’s stock valued at $110,508,000 after purchasing an additional 17,012 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of SPS Commerce by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 492,802 shares of the software maker’s stock worth $95,527,000 after purchasing an additional 7,179 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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.