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

Needham & Company LLC restated their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a report published on Friday,Benzinga reports. They currently have a $230.00 price target on the software maker’s stock.

Several other analysts also recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Stifel Nicolaus boosted their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and an average target price of $218.00.

SPS Commerce Stock Up 2.2 %

NASDAQ SPSC opened at $186.85 on Friday. SPS Commerce has a 52 week low of $160.58 and a 52 week high of $218.74. The stock has a market capitalization of $7.02 billion, a PE ratio of 89.40 and a beta of 0.88. The firm has a 50 day moving average of $186.00 and a two-hundred day moving average of $191.45.

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

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the transaction, 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 disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On SPS Commerce

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its stake 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 worth $84,747,000 after purchasing an additional 210,284 shares during the period. FMR LLC grew its stake in shares of SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after purchasing an additional 104,769 shares during the period. JPMorgan Chase & Co. grew its stake in shares of SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of SPS Commerce by 2,099.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock worth $18,211,000 after purchasing an additional 92,381 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of SPS Commerce during the 3rd quarter worth $17,128,000. Hedge funds and other 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.