Needham & Company LLC Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $210.00

SPS Commerce (NASDAQ:SPSC) had its price objective decreased by Needham & Company LLC from $230.00 to $210.00 in a research report sent to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reduced their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Robert W. Baird raised their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Citigroup cut 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 note on Monday, January 27th. Finally, Northland Securities reissued a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Trading Down 13.8 %

Shares of SPS Commerce stock opened at $152.72 on Tuesday. The company’s 50-day moving average price is $187.58 and its 200-day moving average price is $189.54. SPS Commerce has a 12-month low of $148.00 and a 12-month high of $218.61. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 73.07 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. On average, sell-side analysts predict that SPS Commerce will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 5,831 shares of the 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 147,002 shares in the company, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,230 shares of company stock worth $6,379,187 in the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Trading of SPS Commerce

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in shares of SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. grew its holdings in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of SPS Commerce in the fourth quarter valued at about $40,000. R Squared Ltd bought a new position in shares of SPS Commerce during the fourth quarter valued at about $57,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of SPS Commerce during the fourth quarter worth about $57,000. 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.