SPS Commerce (NASDAQ:SPSC) Reaches New 52-Week Low – What’s Next?

SPS Commerce, Inc. (NASDAQ:SPSC) shares hit a new 52-week low during trading on Friday . The stock traded as low as $121.01 and last traded at $124.45, with a volume of 983 shares trading hands. The stock had previously closed at $129.63.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPSC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of SPS Commerce in a report on Wednesday, March 26th. Northland Securities reiterated a “market perform” rating and issued a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Citigroup dropped their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Piper Sandler decreased their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Stock Performance

The business’s fifty day moving average is $145.99 and its 200-day moving average is $173.40. The firm has a market cap of $4.83 billion, a P/E ratio of 62.70 and a beta of 0.92.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dan Juckniess sold 2,591 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total value of $383,519.82. Following the transaction, the executive vice president now owns 1,367,584 shares in the company, valued at approximately $202,429,783.68. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chadwick Collins sold 2,840 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total value of $420,660.80. Following the sale, the chief executive officer now owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,864 shares of company stock valued at $6,613,078. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

A number of large investors have recently bought and sold shares of SPSC. MassMutual Private Wealth & Trust FSB raised its stake in SPS Commerce by 126.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker’s stock worth $30,000 after buying an additional 125 shares during the period. SBI Securities Co. Ltd. purchased a new stake in SPS Commerce in the 4th quarter valued at $40,000. Hurley Capital LLC purchased a new stake in SPS Commerce in the 4th quarter valued at $41,000. Blue Trust Inc. boosted its holdings in SPS Commerce by 49.1% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock worth $47,000 after acquiring an additional 84 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in SPS Commerce by 4,155.6% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the software maker’s stock worth $51,000 after acquiring an additional 374 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.