Citigroup Has Lowered Expectations for SPS Commerce (NASDAQ:SPSC) Stock Price

SPS Commerce (NASDAQ:SPSC) had its target price reduced by Citigroup from $237.00 to $233.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a report on Wednesday, January 15th. Piper Sandler initiated coverage on shares of SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Robert W. Baird upped their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Stifel Nicolaus dropped their price objective on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $219.22.

SPS Commerce Trading Down 4.2 %

Shares of NASDAQ SPSC opened at $187.79 on Monday. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 89.85 and a beta of 0.88. The stock’s 50-day moving average is $190.07 and its 200 day moving average is $191.44. SPS Commerce has a 1-year low of $160.58 and a 1-year high of $218.74.

Insider Activity

In other news, EVP Dan Juckniess sold 5,831 shares of the firm’s 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 directly owns 23,833 shares in the company, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings 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 worth $32,000 after buying an additional 100 shares during the last quarter. Advisors Asset Management Inc. grew 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. R Squared Ltd purchased a new stake in shares of SPS Commerce in the 4th quarter worth $57,000. Signaturefd LLC raised its holdings in SPS Commerce by 26.0% in 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. Finally, Avior Wealth Management LLC lifted its position in SPS Commerce by 1,358.3% during the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

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.