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

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $205.00 target price on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 20.99% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Citigroup initiated coverage on SPS Commerce in a report on Wednesday, March 13th. They set a “buy” rating and a $216.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.67.

SPS Commerce Stock Performance

SPS Commerce stock opened at $169.43 on Friday. SPS Commerce has a fifty-two week low of $140.00 and a fifty-two week high of $218.74. The firm’s fifty day moving average price is $179.25 and its 200-day moving average price is $179.04. The stock has a market cap of $6.28 billion, a P/E ratio of 96.27 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. On average, analysts predict that SPS Commerce will post 2.13 earnings per share for the current year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the sale, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total value of $2,310,252.49. Following the transaction, the chief operating officer now owns 44,369 shares of the company’s stock, valued at approximately $7,954,030.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares in the company, valued at $3,102,631.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,688 shares of company stock valued at $12,122,275. Company insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

Several institutional investors and hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in shares of SPS Commerce by 5.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 10,160 shares of the software maker’s stock worth $1,733,000 after purchasing an additional 560 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in SPS Commerce during the third quarter valued at about $1,282,000. Cavalier Investments LLC grew its stake in SPS Commerce by 3.6% in the third quarter. Cavalier Investments LLC now owns 9,052 shares of the software maker’s stock valued at $1,544,000 after purchasing an additional 314 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in SPS Commerce by 18.0% in the third quarter. Commonwealth Equity Services LLC now owns 1,940 shares of the software maker’s stock worth $331,000 after purchasing an additional 296 shares in the last quarter. Finally, Dakota Wealth Management lifted its position in shares of SPS Commerce by 102.7% during the third quarter. Dakota Wealth Management now owns 2,868 shares of the software maker’s stock valued at $489,000 after buying an additional 1,453 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

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.