SPS Commerce (NASDAQ:SPSC) Reaches New 52-Week Low on Disappointing Earnings

Shares of SPS Commerce, Inc. (NASDAQ:SPSC) reached a new 52-week low during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $156.11 and last traded at $150.08, with a volume of 59796 shares trading hands. The stock had previously closed at $177.17.

The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%.

Analyst Ratings Changes

SPSC has been the topic of several recent research reports. Robert W. Baird cut their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday. Needham & Company LLC cut their price objective on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday. Stifel Nicolaus cut their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler lowered their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Northland Securities reissued a “market perform” rating and set a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the transaction, the chief financial officer now directly owns 147,002 shares in the company, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On SPS Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of SPSC. Blue Trust Inc. increased its holdings in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. increased its holdings in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares during the period. SBI Securities Co. Ltd. bought a new stake in SPS Commerce in the 4th quarter valued at $40,000. R Squared Ltd bought a new stake in SPS Commerce in the 4th quarter valued at $57,000. Finally, Arcadia Investment Management Corp MI bought a new stake in SPS Commerce in the 4th quarter valued at $57,000. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Trading Up 0.1 %

The stock has a market cap of $5.75 billion, a P/E ratio of 73.18 and a beta of 0.88. The company’s fifty day simple moving average is $186.73 and its 200-day simple moving average is $189.28.

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.