SPS Commerce (NASDAQ:SPSC) Given New $230.00 Price Target at Craig Hallum

SPS Commerce (NASDAQ:SPSC) had its price objective upped by Craig Hallum from $210.00 to $230.00 in a research report released on Friday morning, Benzinga reports. Craig Hallum currently has a buy rating on the software maker’s stock.

A number of other analysts also recently issued reports on SPSC. Citigroup increased their target price on shares of SPS Commerce from $213.00 to $222.00 and gave the stock a buy rating in a research report on Friday, May 10th. Robert W. Baird increased their target price on shares of SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a research report on Friday. William Blair reissued a market perform rating on shares of SPS Commerce in a research report on Thursday, April 25th. DA Davidson increased their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a buy rating in a research report on Friday. Finally, Needham & Company LLC increased their target price on shares of SPS Commerce from $205.00 to $230.00 and gave the stock a buy rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $216.25.

SPS Commerce Stock Performance

NASDAQ SPSC opened at $209.00 on Friday. SPS Commerce has a one year low of $151.96 and a one year high of $218.74. The firm has a 50 day simple moving average of $192.15 and a 200-day simple moving average of $186.10. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 114.21 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.61%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. Equities analysts predict that SPS Commerce will post 2.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Philip Soran sold 2,390 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the completion of the transaction, the director now directly owns 18,852 shares in the company, valued at approximately $3,879,553.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the transaction, the director now directly owns 14,728 shares in the company, valued at approximately $2,855,759.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Philip Soran sold 2,390 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total value of $491,838.10. Following the transaction, the director now owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The disclosure for this sale can be found here. In the last three months, insiders sold 12,242 shares of company stock worth $2,422,377. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SPS Commerce

Several large investors have recently added to or reduced their stakes in SPSC. Norges Bank bought a new position in SPS Commerce during the fourth quarter worth $74,977,000. Norden Group LLC lifted its stake in SPS Commerce by 2,034.7% during the first quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after purchasing an additional 201,764 shares during the last quarter. APG Asset Management US Inc. bought a new position in SPS Commerce during the fourth quarter worth $18,779,000. Axiom Investors LLC DE lifted its stake in SPS Commerce by 183.0% during the fourth quarter. Axiom Investors LLC DE now owns 130,556 shares of the software maker’s stock worth $25,307,000 after purchasing an additional 84,420 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in SPS Commerce by 662.8% during the second quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock worth $17,065,000 after purchasing an additional 78,805 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

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.