SPS Commerce (NASDAQ:SPSC) Now Covered by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of SPS Commerce (NASDAQ:SPSC) in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $198.00 price target on the software maker’s stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research note on Friday, October 25th. Robert W. Baird increased their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price target for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Finally, Stifel Nicolaus increased their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

SPS Commerce Trading Up 2.3 %

Shares of NASDAQ SPSC opened at $193.39 on Monday. The firm has a market capitalization of $7.27 billion, a PE ratio of 92.53 and a beta of 0.84. SPS Commerce has a 1 year low of $160.58 and a 1 year high of $218.74. The firm’s 50-day moving average is $186.64 and its 200-day moving average is $191.26.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The company had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. As a group, equities research analysts anticipate that SPS Commerce will post 2.39 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 that occurred on 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 sale, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

A number of hedge funds and other institutional investors have recently made changes to their positions in SPSC. Quadrature Capital Ltd acquired a new stake in shares of SPS Commerce in the first quarter valued at approximately $329,000. BOKF NA increased its holdings in SPS Commerce by 89.8% during the first quarter. BOKF NA now owns 1,682 shares of the software maker’s stock worth $310,000 after buying an additional 796 shares during the last quarter. Janus Henderson Group PLC increased its holdings in SPS Commerce by 1.7% during the first quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker’s stock worth $9,117,000 after buying an additional 813 shares during the last quarter. Cetera Advisors LLC acquired a new position in SPS Commerce during the first quarter worth $465,000. Finally, Moody National Bank Trust Division increased its holdings in SPS Commerce by 4.8% during the second quarter. Moody National Bank Trust Division now owns 14,255 shares of the software maker’s stock worth $2,682,000 after buying an additional 650 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.