SPS Commerce (NASDAQ:SPSC) Earns “Buy” Rating from 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 currently have a $230.00 target price on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 20.15% from the stock’s previous close.

Several other research analysts have also weighed in on SPSC. Piper Sandler began coverage on SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price on the stock. Stifel Nicolaus reduced their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, 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 report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.00.

SPS Commerce Trading Up 2.1 %

Shares of NASDAQ:SPSC opened at $191.42 on Wednesday. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 91.59 and a beta of 0.88. The stock’s 50-day moving average price is $188.03 and its two-hundred day moving average price is $191.31. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. During the same period in the previous year, the firm earned $0.53 earnings per share. SPS Commerce’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts forecast that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares in the company, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SPS Commerce

Institutional investors have recently made changes to their positions in the stock. Pathstone Holdings LLC boosted its position in SPS Commerce by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock valued at $3,820,000 after purchasing an additional 54 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of SPS Commerce by 4.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock valued at $256,000 after acquiring an additional 55 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of SPS Commerce by 5.0% during the third quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock valued at $237,000 after acquiring an additional 58 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of SPS Commerce by 2.8% during the third quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock worth $449,000 after acquiring an additional 62 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of SPS Commerce by 26.0% in the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after acquiring an additional 69 shares during the period. 98.96% of the stock is 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.