SPS Commerce (NASDAQ:SPSC) Hits New 52-Week Low – Here’s Why

SPS Commerce, Inc. (NASDAQ:SPSC)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $138.05 and last traded at $137.41, with a volume of 38677 shares. The stock had previously closed at $141.22.

Wall Street Analyst Weigh In

SPSC has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC lowered their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Citigroup reduced their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, Robert W. Baird lowered their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Trading Down 1.7 %

The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 68.04 and a beta of 0.88. The firm’s 50 day moving average is $179.85 and its two-hundred day moving average is $186.44.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. As a group, equities analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at $26,620,592.18. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,695 shares of company stock worth $7,781,086 in the last quarter. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On SPS Commerce

Several large investors have recently made changes to their positions in the business. FMR LLC increased its holdings in SPS Commerce by 109.7% in the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker’s stock valued at $261,235,000 after purchasing an additional 742,686 shares in the last quarter. Norges Bank purchased a new stake in shares of SPS Commerce in the fourth quarter worth about $81,543,000. JPMorgan Chase & Co. grew its stake in shares of SPS Commerce by 99.3% in the fourth quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker’s stock valued at $93,286,000 after buying an additional 252,575 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of SPS Commerce by 94.5% during the 3rd quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after buying an additional 210,284 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in SPS Commerce by 33.4% during the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker’s stock worth $140,882,000 after acquiring an additional 191,740 shares in the last quarter. 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.