SPS Commerce (NASDAQ:SPSC) Receives “Buy” Rating from Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They presently have a $205.00 target price on the software maker’s stock. Needham & Company LLC’s target price points to a potential upside of 5.93% from the stock’s previous close.

A number of other equities analysts also recently issued reports on SPSC. Citigroup initiated coverage on shares of SPS Commerce in a report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price objective on the stock. Robert W. Baird lifted their price target on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. StockNews.com lowered SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, William Blair reiterated a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average price target of $196.57.

SPS Commerce Price Performance

NASDAQ SPSC opened at $193.52 on Friday. SPS Commerce has a 1-year low of $151.63 and a 1-year high of $218.74. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 105.75 and a beta of 0.81. The business’s fifty day moving average price is $178.84 and its 200-day moving average price is $180.10.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $144.97 million for the quarter, compared to the consensus estimate of $143.05 million. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. Equities research analysts anticipate that SPS Commerce will post 2.23 EPS for the current year.

Insiders Place Their Bets

In related news, Director Archie C. Black sold 8,723 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $181.56, for a total value of $1,583,747.88. Following the transaction, the director now directly owns 71,852 shares of the company’s stock, valued at approximately $13,045,449.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SPS Commerce news, COO James J. Frome sold 2,901 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total transaction of $531,811.32. Following the completion of the transaction, the chief operating officer now owns 54,029 shares of the company’s stock, valued at approximately $9,904,596.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Archie C. Black sold 8,723 shares of SPS Commerce stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $181.56, for a total value of $1,583,747.88. Following the completion of the sale, the director now directly owns 71,852 shares in the company, valued at $13,045,449.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,019 shares of company stock worth $5,186,345. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Institutional investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of SPS Commerce during the 4th quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in SPS Commerce during the third quarter valued at $35,000. CVA Family Office LLC purchased a new position in shares of SPS Commerce in the 4th quarter worth $44,000. UMB Bank n.a. increased its holdings in shares of SPS Commerce by 224.7% in the 1st quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after buying an additional 164 shares during the last quarter. Finally, RiverPark Advisors LLC purchased a new stake in shares of SPS Commerce during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors 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.