Robert W. Baird Increases SPS Commerce (NASDAQ:SPSC) Price Target to $178.00

SPS Commerce (NASDAQ:SPSC) had its price objective raised by Robert W. Baird from $172.00 to $178.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Robert W. Baird’s price objective would indicate a potential downside of 0.54% from the stock’s previous close.

A number of other brokerages have also recently commented on SPSC. StockNews.com cut SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Needham & Company LLC restated a “buy” rating and issued a $205.00 price target on shares of SPS Commerce in a research report on Friday. Finally, Citigroup started coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.57.

SPS Commerce Stock Performance

SPSC stock opened at $178.96 on Friday. SPS Commerce has a fifty-two week low of $140.00 and a fifty-two week high of $218.74. The business’s 50-day moving average is $178.97 and its two-hundred day moving average is $179.08. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. Equities analysts predict that SPS Commerce will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Kimberly K. Nelson sold 5,965 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $183.17, for a total transaction of $1,092,609.05. Following the completion of the sale, the chief financial officer now owns 147,553 shares in the company, valued at $27,027,283.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kimberly K. Nelson sold 5,965 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $183.17, for a total transaction of $1,092,609.05. Following the completion of the transaction, the chief financial officer now directly owns 147,553 shares of the company’s stock, valued at $27,027,283.01. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Archie C. Black sold 12,875 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total value of $2,310,032.50. Following the transaction, the director now directly owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,688 shares of company stock worth $12,122,275. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SPS Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPSC. Norges Bank bought a new position in SPS Commerce during the fourth quarter valued at approximately $74,977,000. Wellington Management Group LLP boosted its stake in SPS Commerce by 4,691.6% during the third quarter. Wellington Management Group LLP now owns 277,913 shares of the software maker’s stock valued at $47,415,000 after buying an additional 272,113 shares during the last quarter. Norden Group LLC boosted its stake in SPS Commerce by 2,034.7% during the first quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock valued at $39,138,000 after buying an additional 201,764 shares during the last quarter. Comerica Bank bought a new stake in shares of SPS Commerce in the 3rd quarter valued at approximately $23,356,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of SPS Commerce by 27.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 594,624 shares of the software maker’s stock valued at $101,449,000 after purchasing an additional 128,788 shares during the last quarter. 98.96% of the stock is owned by 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.