Northland Securities Reaffirms “Market Perform” Rating for SPS Commerce (NASDAQ:SPSC)

Northland Securities reissued their market perform rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a $181.00 target price on the software maker’s stock, down from their prior target price of $209.00.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird increased their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Citigroup decreased their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Stifel Nicolaus dropped their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Wednesday, January 15th. Finally, Piper Sandler assumed coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Trading Down 13.8 %

SPSC opened at $152.72 on Tuesday. SPS Commerce has a 12 month low of $148.00 and a 12 month high of $218.61. The stock has a 50-day moving average of $187.58 and a 200 day moving average of $189.54. The firm has a market cap of $5.74 billion, a P/E ratio of 73.07 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. On average, research analysts forecast that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 directly owns 23,833 shares in the company, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of SPS Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted 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 last quarter. Raymond James Financial Inc. bought a new position in SPS Commerce in the fourth quarter worth about $27,441,000. Geneva Capital Management LLC lifted its position in shares of SPS Commerce by 31.1% during the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock valued at $107,045,000 after buying an additional 138,014 shares during the last quarter. FMR LLC boosted its holdings in shares of SPS Commerce by 18.3% in the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after buying an additional 104,769 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of SPS Commerce by 69.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after buying an additional 104,210 shares during the last quarter. Institutional investors 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.