SPS Commerce (NASDAQ:SPSC) Price Target Lowered to $175.00 at DA Davidson

SPS Commerce (NASDAQ:SPSC) had its price objective reduced by analysts at DA Davidson from $245.00 to $175.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective indicates a potential upside of 33.84% from the stock’s current price.

A number of other analysts have also weighed in on SPSC. 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 note on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Piper Sandler lowered their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of SPS Commerce in a research report on Wednesday, March 26th. Finally, Citigroup lowered their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.89.

SPS Commerce Stock Performance

Shares of SPSC opened at $130.75 on Monday. The stock has a 50-day moving average of $135.82 and a two-hundred day moving average of $169.51. The stock has a market cap of $4.97 billion, a P/E ratio of 64.09 and a beta of 0.89. SPS Commerce has a one year low of $120.09 and a one year high of $218.61.

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

Insider Transactions at SPS Commerce

In other news, CEO Chadwick Collins sold 2,840 shares of SPS Commerce 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 $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dan Juckniess sold 2,591 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total transaction of $383,519.82. Following the completion of the transaction, the executive vice president now directly owns 1,367,584 shares in the company, valued at $202,429,783.68. This represents a 0.19 % 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 in the last three months. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in SPSC. MassMutual Private Wealth & Trust FSB raised its stake in SPS Commerce by 126.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker’s stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce during the fourth quarter worth $40,000. Hurley Capital LLC acquired a new stake in shares of SPS Commerce in the fourth 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 worth $47,000 after buying an additional 84 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in SPS Commerce by 4,155.6% during the first 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. Hedge funds and other institutional investors 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.