SPS Commerce (NASDAQ:SPSC) Given New $175.00 Price Target at Robert W. Baird

SPS Commerce (NASDAQ:SPSC) had its price target dropped by analysts at Robert W. Baird from $188.00 to $175.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Robert W. Baird’s price target would indicate a potential downside of 1.22% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus cut their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Citigroup lowered their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Piper Sandler initiated coverage on SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Needham & Company LLC lowered their price objective on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Northland Securities reiterated a “market perform” rating and set a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.89.

SPS Commerce Price Performance

SPSC opened at $177.17 on Tuesday. The stock’s 50 day simple moving average is $188.36 and its 200 day simple moving average is $189.93. SPS Commerce has a 1 year low of $160.58 and a 1 year high of $218.61. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 84.77 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share 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%. As a group, sell-side analysts anticipate that SPS Commerce will post 2.38 EPS for the current year.

Insider Transactions at SPS Commerce

In related news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce 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 completion of the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $4,773,988.23. The trade was a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,230 shares of company stock worth $6,379,187 over the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Trading of SPS Commerce

Large investors have recently modified their holdings of the company. Maryland State Retirement & Pension System grew its holdings in SPS Commerce by 1.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 12,651 shares of the software maker’s stock valued at $2,328,000 after purchasing an additional 124 shares during the period. Xponance Inc. grew its holdings in SPS Commerce by 11.7% during the fourth quarter. Xponance Inc. now owns 2,717 shares of the software maker’s stock valued at $500,000 after purchasing an additional 284 shares during the period. Cibc World Markets Corp bought a new stake in SPS Commerce during the fourth quarter valued at about $649,000. Postrock Partners LLC bought a new stake in SPS Commerce during the fourth quarter valued at about $209,000. Finally, LBP AM SA bought a new stake in SPS Commerce during the fourth quarter valued at about $1,846,000. 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.