SPS Commerce’s (SPSC) Buy Rating Reiterated at Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $210.00 price objective on the software maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 54.14% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Northland Securities reissued a “market perform” rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Robert W. Baird decreased their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Piper Sandler cut their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup decreased their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $136.24 on Wednesday. SPS Commerce has a 1 year low of $122.58 and a 1 year high of $218.61. The stock has a market cap of $5.15 billion, a P/E ratio of 66.78 and a beta of 0.92. The stock has a 50-day simple moving average of $153.29 and a 200-day simple moving average of $175.88.

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

Insider Buying and Selling

In other SPS Commerce news, EVP Dan Juckniess sold 2,591 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the transaction, the chief executive officer now directly owns 5,270,106 shares of the company’s stock, valued at approximately $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,864 shares of company stock valued at $6,613,078 over the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its holdings in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of SPS Commerce during the 4th quarter worth $40,000. Hurley Capital LLC purchased a new position in shares of SPS Commerce in the 4th quarter valued at about $41,000. Blue Trust Inc. lifted its stake in shares of SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after purchasing an additional 84 shares during the period. Finally, R Squared Ltd purchased a new stake in SPS Commerce during the fourth quarter worth about $57,000. 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.