SPS Commerce’s (SPSC) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note published on Friday,Benzinga reports. The brokerage currently has a $230.00 target price on the software maker’s stock.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus lifted their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. 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 target for the company. Finally, Robert W. Baird lifted their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $218.00.

SPS Commerce Trading Up 2.2 %

Shares of NASDAQ SPSC opened at $186.85 on Friday. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 89.40 and a beta of 0.88. SPS Commerce has a 52 week low of $160.58 and a 52 week high of $218.74. The company’s 50-day moving average price is $186.00 and its 200 day moving average price is $191.45.

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

Insider Buying and Selling at SPS Commerce

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of SPS Commerce by 209.6% during the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares in the last quarter. AXA S.A. lifted its position in shares of SPS Commerce by 19.4% during the second quarter. AXA S.A. now owns 29,391 shares of the software maker’s stock worth $5,530,000 after purchasing an additional 4,784 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of SPS Commerce during the third quarter worth $3,178,000. Synovus Financial Corp acquired a new position in shares of SPS Commerce during the third quarter worth $1,809,000. Finally, Hsbc Holdings PLC increased its stake in shares of SPS Commerce by 448.2% in the second quarter. Hsbc Holdings PLC now owns 33,484 shares of the software maker’s stock worth $6,295,000 after buying an additional 27,376 shares during the last quarter. 98.96% of the stock is 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.