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

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $230.00 target price on the software maker’s stock. Needham & Company LLC’s price target points to a potential upside of 23.09% from the stock’s current price.

Other research analysts have also issued reports about the company. Piper Sandler began coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price on the stock. Stifel Nicolaus raised their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird raised their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

SPS Commerce Stock Performance

NASDAQ SPSC opened at $186.85 on Friday. The business has a 50 day simple moving average of $186.00 and a 200 day simple moving average of $191.39. SPS Commerce has a 52-week low of $160.58 and a 52-week high of $218.74. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 89.40 and a beta of 0.88.

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

Insider Transactions at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the firm’s stock in a transaction that occurred 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 approximately $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 accessible through this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the business’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 value of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SPSC. Central Pacific Bank Trust Division boosted its stake in shares of SPS Commerce by 13.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,010 shares of the software maker’s stock worth $186,000 after buying an additional 120 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares during the period. Lord Abbett & CO. LLC grew its position in SPS Commerce by 27.9% during the third quarter. Lord Abbett & CO. LLC now owns 283,685 shares of the software maker’s stock valued at $55,083,000 after buying an additional 61,907 shares during the period. Franklin Resources Inc. increased its holdings in SPS Commerce by 94.5% during 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 during the last quarter. Finally, Synovus Financial Corp bought a new stake in SPS Commerce in the third quarter worth about $1,809,000. 98.96% of the stock is 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.