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

Needham & Company LLC reaffirmed their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $230.00 price target on the software maker’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler began coverage on shares of SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective for the company. Stifel Nicolaus reduced their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Robert W. Baird lifted their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.00.

SPS Commerce Stock Up 2.8 %

Shares of SPSC stock opened at $187.42 on Wednesday. The business has a 50-day moving average price of $187.90 and a two-hundred day moving average price of $191.31. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74. The firm has a market cap of $7.04 billion, a P/E ratio of 89.67 and a beta of 0.88.

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

Insider Activity at SPS Commerce

In related news, EVP Dan Juckniess sold 5,831 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction 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 in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

A number of large investors have recently modified their holdings of the stock. State Street Corp raised its stake in SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after buying an additional 16,357 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of SPS Commerce by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after acquiring an additional 21,170 shares during the period. Geode Capital Management LLC raised its position in shares of SPS Commerce by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock worth $182,287,000 after acquiring an additional 14,174 shares in the last quarter. FMR LLC lifted its stake in shares of SPS Commerce by 18.3% in the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock valued at $131,481,000 after purchasing an additional 104,769 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of SPS Commerce by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock valued at $93,583,000 after purchasing an additional 12,552 shares in the last quarter. 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.