SPS Commerce (NASDAQ:SPSC) Price Target Cut to $225.00 by Analysts at Stifel Nicolaus

SPS Commerce (NASDAQ:SPSC) had its price target lowered by research analysts at Stifel Nicolaus from $250.00 to $225.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 23.07% from the company’s current price.

SPSC has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday. Robert W. Baird increased their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Piper Sandler started coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.00.

SPS Commerce Trading Up 0.0 %

Shares of SPS Commerce stock opened at $182.82 on Friday. The business’s 50-day moving average price is $185.67 and its 200-day moving average price is $191.38. The firm has a market capitalization of $6.87 billion, a PE ratio of 87.47 and a beta of 0.86. SPS Commerce has a 12 month low of $160.58 and a 12 month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same period last year, the firm posted $0.53 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, analysts predict that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insider Activity at SPS Commerce

In related news, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of SPS Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its stake in shares of SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after buying an additional 210,284 shares in the last quarter. FMR LLC raised its holdings in SPS Commerce by 18.3% in the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after acquiring an additional 104,769 shares during the last quarter. JPMorgan Chase & Co. lifted its position in SPS Commerce by 69.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after acquiring an additional 104,210 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in SPS Commerce by 2,099.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock valued at $18,211,000 after purchasing an additional 92,381 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of SPS Commerce in the 3rd quarter worth $17,128,000. 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.