SPS Commerce’s (SPSC) Buy Rating Reaffirmed at Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $230.00 price objective on the software maker’s stock. Needham & Company LLC’s target price points to a potential upside of 26.15% from the stock’s current price.

Other analysts also recently issued reports about the stock. Piper Sandler initiated coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective on the stock. Stifel Nicolaus cut their price target on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Robert W. Baird boosted their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Six 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

SPS Commerce Stock Up 1.8 %

NASDAQ:SPSC opened at $182.32 on Wednesday. The firm has a 50 day moving average of $187.83 and a 200 day moving average of $191.34. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 87.23 and a beta of 0.88. SPS Commerce has a 52 week low of $160.58 and a 52 week high of $218.74.

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

Insider Buying and Selling

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the transaction, the executive vice president now owns 23,833 shares in the company, valued at approximately $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Trading of SPS Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its position in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC grew its holdings in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after purchasing an additional 69 shares during the period. Avior Wealth Management LLC increased its position in shares of SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after purchasing an additional 326 shares during the last quarter. Finally, Huntington National Bank raised its holdings in SPS Commerce by 63.0% in the 3rd quarter. Huntington National Bank now owns 445 shares of the software maker’s stock valued at $86,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds 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.