SPS Commerce (NASDAQ:SPSC) Research Coverage Started at Redburn Atlantic

Equities researchers at Redburn Atlantic initiated coverage on shares of SPS Commerce (NASDAQ:SPSCGet Free Report) in a research note issued to investors on Tuesday, Benzinga reports. The firm set a “buy” rating and a $220.00 price target on the software maker’s stock. Redburn Atlantic’s price objective indicates a potential upside of 14.23% from the company’s previous close.

Other equities analysts have also issued reports about the stock. William Blair reiterated a “market perform” rating on shares of SPS Commerce in a report on Thursday, April 25th. Robert W. Baird raised their price objective on SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research report on Friday. Finally, Citigroup lifted their price objective on shares of SPS Commerce from $213.00 to $222.00 and gave the company a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $200.25.

Check Out Our Latest Stock Analysis on SPS Commerce

SPS Commerce Stock Up 0.1 %

NASDAQ SPSC opened at $192.60 on Tuesday. The business’s fifty day simple moving average is $178.97 and its 200-day simple moving average is $180.93. The firm has a market cap of $7.13 billion, a PE ratio of 105.25 and a beta of 0.81. SPS Commerce has a 52 week low of $151.63 and a 52 week high of $218.74.

Insider Transactions at SPS Commerce

In other news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the sale, the director now directly owns 15,747 shares of the company’s stock, valued at $3,102,631.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the sale, the director now owns 15,747 shares of the company’s stock, valued at $3,102,631.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James J. Frome sold 2,825 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $187.47, for a total value of $529,602.75. Following the completion of the transaction, the chief operating officer now directly owns 56,930 shares of the company’s stock, valued at $10,672,667.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,019 shares of company stock worth $5,186,345. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SPS Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in SPS Commerce by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,250,549 shares of the software maker’s stock valued at $725,186,000 after buying an additional 33,874 shares during the last quarter. Raymond James & Associates raised its holdings in shares of SPS Commerce by 5.3% in the 4th quarter. Raymond James & Associates now owns 109,125 shares of the software maker’s stock worth $21,153,000 after purchasing an additional 5,456 shares during the period. Fisher Asset Management LLC lifted its position in SPS Commerce by 23.1% during the fourth quarter. Fisher Asset Management LLC now owns 82,537 shares of the software maker’s stock valued at $15,999,000 after buying an additional 15,514 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in SPS Commerce by 102.9% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 29,799 shares of the software maker’s stock worth $5,776,000 after buying an additional 15,110 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of SPS Commerce by 1.0% during the 3rd quarter. Northern Trust Corp now owns 491,062 shares of the software maker’s stock valued at $83,780,000 after acquiring an additional 4,764 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

About SPS Commerce

(Get Free Report)

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.

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Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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