SPS Commerce (NASDAQ:SPSC) Hits New 52-Week Low on Disappointing Earnings

Shares of SPS Commerce, Inc. (NASDAQ:SPSC) reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $156.11 and last traded at $150.08, with a volume of 59796 shares trading hands. The stock had previously closed at $177.17.

The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%.

Analyst Ratings Changes

SPSC has been the subject of a number of analyst reports. Citigroup dropped their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Piper Sandler decreased their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday. Robert W. Baird dropped their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC decreased their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus cut their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.89.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares in the company, valued at $4,167,776.20. This represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the transaction, the chief financial officer now owns 147,002 shares in the company, valued at approximately $26,620,592.18. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,230 shares of company stock worth $6,379,187 in the last quarter. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Advisors Asset Management Inc. lifted its position in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the period. SBI Securities Co. Ltd. acquired a new stake in SPS Commerce during the 4th quarter valued at $40,000. R Squared Ltd purchased a new position in SPS Commerce during the fourth quarter worth $57,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of SPS Commerce in the fourth quarter worth $57,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Price Performance

The firm has a market capitalization of $5.74 billion, a PE ratio of 72.79 and a beta of 0.88. The company has a 50-day moving average price of $188.36 and a 200-day moving average price of $189.93.

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.