SPS Commerce (NASDAQ:SPSC) Cut to Hold at Wall Street Zen

SPS Commerce (NASDAQ:SPSC) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued reports about the company. DA Davidson cut SPS Commerce from a “strong-buy” rating to a “hold” rating and decreased their price target for the company from $175.00 to $125.00 in a research note on Thursday, July 31st. Stifel Nicolaus reduced their price objective on SPS Commerce from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Robert W. Baird raised their price objective on SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Morgan Stanley reduced their price objective on SPS Commerce from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Finally, Loop Capital cut SPS Commerce from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $175.00 to $120.00 in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $165.80.

SPS Commerce Stock Performance

SPS Commerce stock opened at $112.04 on Friday. The stock has a 50-day moving average of $130.79 and a two-hundred day moving average of $137.94. SPS Commerce has a one year low of $102.05 and a one year high of $203.86. The stock has a market cap of $4.25 billion, a PE ratio of 51.39 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. The company had revenue of $187.40 million during the quarter, compared to analysts’ expectations of $185.88 million. During the same period last year, the business posted $0.80 earnings per share. The firm’s revenue was up 22.0% compared to the same quarter last year. As a group, sell-side analysts predict that SPS Commerce will post 2.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. raised its position in SPS Commerce by 60.6% during the second quarter. UMB Bank n.a. now owns 212 shares of the software maker’s stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in SPS Commerce by 126.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker’s stock valued at $30,000 after acquiring an additional 125 shares in the last quarter. NewEdge Advisors LLC raised its position in SPS Commerce by 545.7% during the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Allworth Financial LP raised its position in SPS Commerce by 296.6% during the first quarter. Allworth Financial LP now owns 234 shares of the software maker’s stock valued at $33,000 after acquiring an additional 175 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in SPS Commerce by 105.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 302 shares of the software maker’s stock valued at $40,000 after acquiring an additional 155 shares in the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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.