SPS Commerce’s (SPSC) “Market Perform” Rating Reiterated at Northland Securities

SPS Commerce (NASDAQ:SPSC)‘s stock had its “market perform” rating reiterated by equities researchers at Northland Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $181.00 price target on the software maker’s stock, down from their previous price target of $209.00. Northland Securities’ target price suggests a potential upside of 2.16% from the stock’s current price.

A number of other research analysts have also recently issued reports on SPSC. Stifel Nicolaus dropped their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research note on Wednesday, January 15th. Robert W. Baird boosted their target price on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Piper Sandler started coverage on SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target for the company. Finally, Citigroup decreased their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.89.

SPS Commerce Price Performance

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

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. On average, equities research analysts anticipate that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the transaction, the executive vice president now owns 22,570 shares in the company, valued at $4,167,776.20. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,230 shares of company stock worth $6,379,187 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in shares of SPS Commerce during the second quarter valued at approximately $517,000. Inspire Investing LLC lifted its stake in SPS Commerce by 13.8% in the third quarter. Inspire Investing LLC now owns 2,131 shares of the software maker’s stock valued at $414,000 after buying an additional 258 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in SPS Commerce by 63.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 659 shares of the software maker’s stock valued at $128,000 after purchasing an additional 255 shares during the last quarter. Creative Planning boosted its position in shares of SPS Commerce by 13.6% during the third quarter. Creative Planning now owns 10,069 shares of the software maker’s stock worth $1,955,000 after buying an additional 1,204 shares during the period. Finally, AlphaMark Advisors LLC bought a new position in shares of SPS Commerce in the third quarter worth $319,000. Institutional investors and hedge funds 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.