SPS Commerce, Inc. (NASDAQ:SPSC) Receives Average Recommendation of “Moderate Buy” from Brokerages

SPS Commerce, Inc. (NASDAQ:SPSC) has been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $220.25.

Several equities research analysts recently commented on SPSC shares. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Redburn Atlantic began coverage on shares of SPS Commerce in a report on Tuesday, May 14th. They set a “buy” rating and a $220.00 price target for the company. Craig Hallum upped their price objective on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Robert W. Baird increased their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th.

SPS Commerce Stock Performance

NASDAQ SPSC opened at $185.88 on Wednesday. SPS Commerce has a one year low of $151.96 and a one year high of $218.74. The business has a fifty day moving average price of $197.68 and a 200 day moving average price of $188.35. The company has a market cap of $6.90 billion, a P/E ratio of 101.57 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. During the same period last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts predict that SPS Commerce will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other SPS Commerce news, 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 transaction of $491,838.10. Following the sale, 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 available through this link. In related news, Director Philip Soran sold 2,390 shares of the firm’s 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 sale, the director now owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the sale, the director now directly owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,675 shares of company stock valued at $1,551,735. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds have recently made changes to their positions in SPSC. Shaker Investments LLC OH boosted its stake in shares of SPS Commerce by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock worth $564,000 after buying an additional 50 shares during the period. EverSource Wealth Advisors LLC grew its position in SPS Commerce by 10.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker’s stock worth $114,000 after buying an additional 56 shares during the period. Arkadios Wealth Advisors increased its holdings in SPS Commerce by 1.8% in the second quarter. Arkadios Wealth Advisors now owns 3,756 shares of the software maker’s stock valued at $707,000 after buying an additional 67 shares in the last quarter. XTX Topco Ltd lifted its position in shares of SPS Commerce by 4.9% during the 2nd quarter. XTX Topco Ltd now owns 1,744 shares of the software maker’s stock valued at $328,000 after acquiring an additional 82 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in shares of SPS Commerce by 7.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the software maker’s stock worth $226,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

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.