SPS Commerce (NASDAQ:SPSC) PT Raised to $230.00

SPS Commerce (NASDAQ:SPSC) had its price target increased by Craig Hallum from $210.00 to $230.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other research analysts have also recently weighed in on the stock. William Blair restated a market perform rating on shares of SPS Commerce in a research report on Thursday, April 25th. DA Davidson increased their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a buy rating in a report on Friday. Redburn Atlantic began coverage on shares of SPS Commerce in a research report on Tuesday, May 14th. They set a buy rating and a $220.00 price objective on the stock. Robert W. Baird upped their target price on shares of SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a research report on Friday. Finally, Stifel Nicolaus raised their price target on SPS Commerce from $200.00 to $225.00 and gave the company a buy rating in a research report on Friday. Four investment 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.com, the company has a consensus rating of Moderate Buy and an average price target of $220.25.

SPS Commerce Price Performance

NASDAQ SPSC opened at $205.80 on Friday. The company’s 50 day simple moving average is $192.15 and its two-hundred day simple moving average is $186.22. SPS Commerce has a 1 year low of $151.96 and a 1 year high of $218.74. The stock has a market capitalization of $7.64 billion, a PE ratio of 112.46 and a beta of 0.85.

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

Insider Activity

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

Institutional Investors Weigh In On SPS Commerce

Several institutional investors and hedge funds have recently bought and sold shares of SPSC. Norges Bank bought a new position in shares of SPS Commerce during the fourth quarter valued at approximately $74,977,000. Norden Group LLC increased its position in SPS Commerce by 2,034.7% during the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock valued at $39,138,000 after purchasing an additional 201,764 shares during the period. APG Asset Management US Inc. bought a new position in SPS Commerce in the 4th quarter worth $18,779,000. Axiom Investors LLC DE raised its holdings in SPS Commerce by 183.0% in the 4th quarter. Axiom Investors LLC DE now owns 130,556 shares of the software maker’s stock worth $25,307,000 after purchasing an additional 84,420 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of SPS Commerce by 662.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock worth $17,065,000 after purchasing an additional 78,805 shares during the period. 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.