SPS Commerce (NASDAQ:SPSC) Price Target Cut to $175.00 by Analysts at Piper Sandler

SPS Commerce (NASDAQ:SPSC) had its target price dropped by investment analysts at Piper Sandler from $198.00 to $175.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Piper Sandler’s target price points to a potential downside of 1.22% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Citigroup dropped their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Northland Securities restated a “market perform” rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday. Needham & Company LLC dropped their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday. Stifel Nicolaus lowered their target price 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. Finally, Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.89.

SPS Commerce Stock Down 0.6 %

SPSC stock opened at $177.17 on Tuesday. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.61. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 84.77 and a beta of 0.88. The company has a 50 day moving average of $188.36 and a two-hundred day moving average of $189.93.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) 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%. On average, research analysts anticipate that SPS Commerce will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the completion of the transaction, the chief financial officer now directly owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction dated 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 sale, the executive vice president now owns 23,833 shares in the company, valued at approximately $4,773,988.23. This trade represents a 19.66 % 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 ninety days. Insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

Several institutional investors have recently made changes to their positions in SPSC. Franklin Resources Inc. boosted its position 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 valued at $84,747,000 after acquiring an additional 210,284 shares in the last quarter. Raymond James Financial Inc. acquired a new position in SPS Commerce in the fourth quarter valued at about $27,441,000. Geneva Capital Management LLC boosted its position in SPS Commerce by 31.1% in 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 in the last quarter. FMR LLC boosted its position in SPS Commerce by 18.3% in the third 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. boosted its position in SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after buying an additional 104,210 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.