Analysts Set SPS Commerce, Inc. (NASDAQ:SPSC) PT at $196.57

SPS Commerce, Inc. (NASDAQ:SPSC) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $196.57.

SPSC has been the topic of several analyst reports. Citigroup initiated coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They set a “buy” rating and a $216.00 price target on the stock. William Blair reaffirmed a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. StockNews.com downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a report on Friday, April 26th. Finally, Robert W. Baird lifted their target price on shares of SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a report on Friday, April 26th.

Insiders Place Their Bets

In other SPS Commerce news, COO James J. Frome sold 2,901 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the transaction, the chief operating officer now owns 54,029 shares in the company, valued at $9,904,596.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other SPS Commerce news, COO James J. Frome sold 2,901 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the transaction, the chief operating officer now owns 54,029 shares in the company, valued at $9,904,596.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. Insiders sold a total of 28,019 shares of company stock worth $5,186,345 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

A number of institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB boosted its stake in SPS Commerce by 5.8% in the third quarter. Handelsbanken Fonder AB now owns 10,160 shares of the software maker’s stock valued at $1,733,000 after acquiring an additional 560 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in SPS Commerce by 18.0% in the third quarter. Commonwealth Equity Services LLC now owns 1,940 shares of the software maker’s stock valued at $331,000 after acquiring an additional 296 shares in the last quarter. Dakota Wealth Management boosted its stake in SPS Commerce by 102.7% in the third quarter. Dakota Wealth Management now owns 2,868 shares of the software maker’s stock valued at $489,000 after acquiring an additional 1,453 shares in the last quarter. Raymond James & Associates boosted its stake in SPS Commerce by 1.6% in the third quarter. Raymond James & Associates now owns 103,669 shares of the software maker’s stock valued at $17,687,000 after acquiring an additional 1,612 shares in the last quarter. Finally, Redwood Investments LLC boosted its stake in SPS Commerce by 17.0% in the third quarter. Redwood Investments LLC now owns 85,579 shares of the software maker’s stock valued at $14,601,000 after acquiring an additional 12,412 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Price Performance

SPSC opened at $182.41 on Thursday. The company’s 50 day simple moving average is $178.39 and its two-hundred day simple moving average is $179.49. SPS Commerce has a 1-year low of $147.90 and a 1-year high of $218.74. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 99.68 and a beta of 0.81.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $144.97 million for the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. On average, equities analysts anticipate that SPS Commerce will post 2.23 earnings per share for the current fiscal 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.