SPS Commerce (NASDAQ:SPSC) Given “Buy” Rating at Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $210.00 price target on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 55.56% from the company’s previous close.

Several other research firms have also recently issued reports on SPSC. Piper Sandler decreased their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their target price on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Northland Securities restated a “market perform” rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Robert W. Baird cut their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Citigroup lowered their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Price Performance

Shares of SPSC opened at $135.00 on Wednesday. SPS Commerce has a 12 month low of $122.58 and a 12 month high of $218.61. The stock has a fifty day moving average price of $156.37 and a 200 day moving average price of $176.80. The company has a market cap of $5.10 billion, a P/E ratio of 66.18 and a beta of 0.92.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Monday, February 10th. 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 12.27% and a net margin of 12.08%. As a group, research analysts anticipate that SPS Commerce will post 2.73 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at approximately $4,167,776.20. The trade was a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,864 shares of company stock valued at $6,613,078. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its stake 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 buying an additional 100 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce during the fourth quarter worth $40,000. Hurley Capital LLC purchased a new stake in shares of SPS Commerce during the fourth quarter worth $41,000. Blue Trust Inc. boosted its position in SPS Commerce by 49.1% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after purchasing an additional 84 shares during the last quarter. Finally, R Squared Ltd purchased a new position in SPS Commerce in the fourth quarter valued at about $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.