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

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $230.00 price objective on the software maker’s stock. Needham & Company LLC’s price target suggests a potential upside of 26.15% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus lowered their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Robert W. Baird lifted their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Piper Sandler began coverage on SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $218.00.

SPS Commerce Stock Up 1.8 %

Shares of SPSC opened at $182.32 on Wednesday. The company has a market cap of $6.85 billion, a P/E ratio of 87.23 and a beta of 0.88. SPS Commerce has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The firm’s 50 day moving average price is $187.83 and its 200 day moving average price is $191.34.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Research analysts forecast that SPS Commerce will post 2.38 earnings per share for the current year.

Insider Activity at SPS Commerce

In other news, 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 value of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares of the company’s stock, valued at $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in 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. FMR LLC lifted its holdings in 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 purchasing an additional 104,769 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 during the last quarter. Public Employees Retirement Association of Colorado boosted its position in SPS Commerce by 2,099.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock worth $18,211,000 after acquiring an additional 92,381 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in SPS Commerce in the 3rd quarter worth approximately $17,128,000. Institutional investors and hedge funds 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.