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

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They currently have a $230.00 target price on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 10.07% from the company’s current price.

Several other analysts have also recently weighed in on SPSC. Robert W. Baird increased their price target on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Redburn Atlantic initiated coverage on SPS Commerce in a report on Tuesday, May 14th. They issued a “buy” rating and a $220.00 price objective on the stock. Stifel Nicolaus raised their target price on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Craig Hallum upped their price target on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, William Blair reiterated a “market perform” rating on shares of SPS Commerce in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.25.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $208.96 on Friday. The business’s 50 day moving average price is $193.30 and its 200 day moving average price is $186.93. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 114.19 and a beta of 0.84. SPS Commerce has a one year low of $151.96 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, analysts predict that SPS Commerce will post 2.35 EPS for the current fiscal year.

Insider Activity at SPS Commerce

In related news, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the transaction, the director now owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the sale, the director now directly owns 14,728 shares in the company, valued at $2,855,759.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Soran sold 3,285 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the sale, the director now directly owns 18,852 shares in the company, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,242 shares of company stock worth $2,422,377. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPSC. Shaker Investments LLC OH raised its stake in shares of SPS Commerce by 1.7% in the second quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock valued at $564,000 after acquiring an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in SPS Commerce by 10.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker’s stock valued at $114,000 after purchasing an additional 56 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of SPS Commerce by 1.7% in the 4th quarter. Arkadios Wealth Advisors now owns 3,789 shares of the software maker’s stock valued at $734,000 after buying an additional 64 shares during the period. Wealth Alliance grew its position in shares of SPS Commerce by 4.4% during the fourth quarter. Wealth Alliance now owns 1,674 shares of the software maker’s stock worth $324,000 after buying an additional 71 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of SPS Commerce by 0.4% during the fourth quarter. Yousif Capital Management LLC now owns 18,479 shares of the software maker’s stock worth $3,582,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Company Profile

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.