SPS Commerce (NASDAQ:SPSC) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $210.00 price objective on the software maker’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup decreased 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 report on Monday, January 27th. Robert W. Baird lowered their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Northland Securities reaffirmed a “market perform” rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Piper Sandler dropped their price objective on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus lowered their target price on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC opened at $133.50 on Wednesday. The company’s fifty day moving average is $152.14 and its two-hundred day moving average is $175.51. SPS Commerce has a 1-year low of $122.58 and a 1-year high of $218.61. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 65.44 and a beta of 0.92.

SPS Commerce (NASDAQ:SPSC) last posted 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 net margin of 12.08% and a return on equity of 12.27%. Sell-side analysts expect that SPS Commerce will post 2.73 EPS for the current fiscal year.

Insider Activity at SPS Commerce

In other news, CEO Chadwick Collins sold 2,840 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at approximately $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,864 shares of company stock valued at $6,613,078. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SPS Commerce by 14.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,510 shares of the software maker’s stock valued at $278,000 after purchasing an additional 193 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of SPS Commerce during the 4th quarter worth about $303,000. Public Employees Retirement System of Ohio increased its holdings in shares of SPS Commerce by 22.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,774 shares of the software maker’s stock valued at $2,718,000 after acquiring an additional 2,714 shares during the last quarter. Palisades Investment Partners LLC raised its stake in shares of SPS Commerce by 9.4% in the 4th quarter. Palisades Investment Partners LLC now owns 49,548 shares of the software maker’s stock valued at $9,116,000 after acquiring an additional 4,244 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in SPS Commerce by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,493 shares of the software maker’s stock worth $21,618,000 after purchasing an additional 15,194 shares during 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.