SPS Commerce’s (SPSC) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a report released on Friday morning, Benzinga reports. The firm currently has a $230.00 price target on the software maker’s stock.

Several other research analysts also recently commented on the company. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Robert W. Baird upped their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. DA Davidson upped their price objective on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus increased their price target on SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and an average price target of $223.38.

SPS Commerce Stock Performance

Shares of SPSC stock traded down $20.49 during trading hours on Friday, hitting $170.49. The company had a trading volume of 636,500 shares, compared to its average volume of 179,940. SPS Commerce has a 12 month low of $151.96 and a 12 month high of $218.74. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 88.80 and a beta of 0.82. The firm’s fifty day moving average is $192.69 and its 200 day moving average is $190.51.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. SPS Commerce’s revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, sell-side analysts expect that SPS Commerce will post 2.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in shares of SPS Commerce by 79.0% in the 2nd quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker’s stock valued at $1,562,000 after acquiring an additional 3,662 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in SPS Commerce by 11.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,875 shares of the software maker’s stock valued at $6,062,000 after purchasing an additional 3,340 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in SPS Commerce by 60.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 68,135 shares of the software maker’s stock valued at $12,598,000 after purchasing an additional 25,636 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in SPS Commerce by 36.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 204,042 shares of the software maker’s stock worth $37,727,000 after acquiring an additional 54,600 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in SPS Commerce by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock worth $803,798,000 after acquiring an additional 58,525 shares during the last quarter. 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.