SPS Commerce, Inc. (NASDAQ:SPSC) Receives $219.22 Consensus Target Price from Brokerages

Shares of SPS Commerce, Inc. (NASDAQ:SPSC) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $219.22.

A number of equities research analysts recently commented on SPSC shares. Stifel Nicolaus lowered their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Citigroup lowered their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Wednesday, January 15th. Piper Sandler assumed coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective on the stock. Finally, Robert W. Baird lifted their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th.

Insiders Place Their Bets

In related news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the sale, the chief financial officer now owns 156,292 shares in the company, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the transaction, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,940 shares of company stock worth $4,696,861 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPS Commerce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. R Squared Ltd purchased a new position in SPS Commerce in the fourth quarter worth $57,000. Arcadia Investment Management Corp MI purchased a new position in SPS Commerce in the fourth quarter worth $57,000. Finally, Signaturefd LLC increased its stake in SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after acquiring an additional 69 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $182.16 on Friday. SPS Commerce has a 52 week low of $160.58 and a 52 week high of $218.74. The firm’s 50-day simple moving average is $189.21 and its two-hundred day simple moving average is $190.64. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 87.16 and a beta of 0.88.

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.