SPS Commerce (NASDAQ:SPSC) Price Target Cut to $175.00 by Analysts at Piper Sandler

SPS Commerce (NASDAQ:SPSC) had its target price lowered by Piper Sandler from $198.00 to $175.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price target would suggest a potential downside of 1.22% from the company’s previous close.

Several other brokerages also recently commented on SPSC. Needham & Company LLC lowered their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup lowered their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Stifel Nicolaus lowered their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Northland Securities reiterated a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus target price of $209.89.

SPS Commerce Price Performance

SPSC opened at $177.17 on Tuesday. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 84.77 and a beta of 0.88. The firm has a 50 day simple moving average of $188.36 and a 200 day simple moving average of $189.93. SPS Commerce has a fifty-two week low of $160.58 and a fifty-two week high of $218.61.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. As a group, analysts expect that SPS Commerce will post 2.38 EPS for the current year.

Insider Buying and Selling

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the sale, the chief financial officer now owns 147,002 shares in the company, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares of the company’s stock, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is owned by insiders.

Institutional Trading of SPS Commerce

A number of large investors have recently added to or reduced their stakes in SPSC. Sanctuary Advisors LLC acquired a new stake in SPS Commerce in the second quarter valued at $517,000. Inspire Investing LLC raised its position in shares of SPS Commerce by 13.8% in the third quarter. Inspire Investing LLC now owns 2,131 shares of the software maker’s stock valued at $414,000 after purchasing an additional 258 shares during the period. Exchange Traded Concepts LLC raised its position in shares of SPS Commerce by 63.1% in the third quarter. Exchange Traded Concepts LLC now owns 659 shares of the software maker’s stock valued at $128,000 after purchasing an additional 255 shares during the period. Creative Planning raised its position in shares of SPS Commerce by 13.6% in the third quarter. Creative Planning now owns 10,069 shares of the software maker’s stock valued at $1,955,000 after purchasing an additional 1,204 shares during the period. Finally, AlphaMark Advisors LLC bought a new position in shares of SPS Commerce in the third quarter valued at about $319,000. Institutional investors and hedge funds 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.