Analysts Set SPS Commerce, Inc. (NASDAQ:SPSC) PT at $218.00

SPS Commerce, Inc. (NASDAQ:SPSC) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $218.00.

Several equities research analysts recently issued reports on SPSC shares. Robert W. Baird lifted their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Piper Sandler initiated 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. Stifel Nicolaus lowered their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a report on Friday, January 3rd.

Insider Activity at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now 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. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

A number of institutional investors and hedge funds have recently made changes to their positions in SPSC. Commonwealth Equity Services LLC increased its position in SPS Commerce by 10.3% in the second quarter. Commonwealth Equity Services LLC now owns 2,493 shares of the software maker’s stock worth $469,000 after buying an additional 232 shares during the period. Rhumbline Advisers increased its holdings in shares of SPS Commerce by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 107,052 shares of the software maker’s stock worth $20,143,000 after acquiring an additional 671 shares during the period. Victory Capital Management Inc. lifted its position in SPS Commerce by 7.4% in the 2nd quarter. Victory Capital Management Inc. now owns 12,309 shares of the software maker’s stock valued at $2,316,000 after purchasing an additional 848 shares during the last quarter. Arizona State Retirement System boosted its stake in SPS Commerce by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 10,382 shares of the software maker’s stock valued at $1,953,000 after purchasing an additional 297 shares during the period. Finally, Gallacher Capital Management LLC bought a new position in SPS Commerce in the 2nd quarter worth about $259,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Price Performance

Shares of SPSC opened at $179.13 on Tuesday. SPS Commerce has a 12 month low of $160.58 and a 12 month high of $218.74. The stock’s 50-day moving average is $187.37 and its two-hundred day moving average is $191.40. The stock has a market cap of $6.73 billion, a PE ratio of 85.71 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last released 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 return on equity of 12.60% and a net margin of 12.83%. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the company posted $0.53 EPS. SPS Commerce’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts anticipate that SPS Commerce will post 2.38 earnings per share for the current year.

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.