SPS Commerce (NASDAQ:SPSC) Coverage Initiated by Analysts at Piper Sandler

Research analysts at Piper Sandler assumed coverage on shares of SPS Commerce (NASDAQ:SPSC) in a research report issued on Monday, MarketBeat.com reports. The firm set a “neutral” rating and a $198.00 price target on the software maker’s stock. Piper Sandler’s target price points to a potential upside of 2.42% from the stock’s previous close.

SPSC has been the topic of several other research reports. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Robert W. Baird upped their price target on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday, October 25th. Northland Securities cut SPS Commerce from an “outperform” rating to a “market perform” rating and upped their price target for the company from $205.00 to $209.00 in a report on Monday, July 29th. Finally, Stifel Nicolaus boosted their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.78.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $193.33 on Monday. SPS Commerce has a 12 month low of $160.58 and a 12 month high of $218.74. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 92.14 and a beta of 0.84. The stock’s 50 day moving average price is $186.64 and its 200 day moving average price is $191.25.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, sell-side analysts expect that SPS Commerce will post 2.39 EPS for the current year.

Insider Buying and Selling at SPS Commerce

In other news, 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 $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Several institutional investors and hedge funds have recently modified their holdings of the stock. Shaker Investments LLC OH grew its holdings in shares of SPS Commerce by 1.7% during the 2nd quarter. Shaker Investments LLC OH now owns 3,000 shares of the software maker’s stock valued at $564,000 after acquiring an additional 50 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of SPS Commerce by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock valued at $3,820,000 after acquiring an additional 54 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of SPS Commerce by 4.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock valued at $256,000 after acquiring an additional 55 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock valued at $237,000 after acquiring an additional 58 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of SPS Commerce by 2.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock valued at $449,000 after acquiring an additional 62 shares in the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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.