SPS Commerce (NASDAQ:SPSC) Price Target Raised to $186.00

SPS Commerce (NASDAQ:SPSC) had its target price raised by Robert W. Baird from $178.00 to $186.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the software maker’s stock.

SPSC has been the topic of several other research reports. William Blair restated a market perform rating on shares of SPS Commerce in a report on Thursday, April 25th. Needham & Company LLC reissued a buy rating and issued a $205.00 price objective on shares of SPS Commerce in a research note on Friday, May 10th. Citigroup upped their target price on SPS Commerce from $213.00 to $222.00 and gave the company a buy rating in a research report on Friday, May 10th. Finally, Redburn Atlantic initiated coverage on SPS Commerce in a report on Tuesday, May 14th. They issued a buy rating and a $220.00 target price for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, SPS Commerce has a consensus rating of Moderate Buy and a consensus target price of $220.25.

SPS Commerce Price Performance

Shares of SPSC opened at $205.80 on Friday. The business has a 50-day moving average of $192.15 and a 200-day moving average of $186.22. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 112.46 and a beta of 0.85. SPS Commerce has a 1 year low of $151.96 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, sell-side analysts anticipate that SPS Commerce will post 2.23 EPS for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total value of $1,273,341.30. Following the transaction, the director now owns 14,728 shares in the company, valued at $2,855,759.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Philip Soran sold 2,390 shares of SPS Commerce stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total value of $491,838.10. Following the completion of the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James Burr Ramsey sold 6,567 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the transaction, the director now owns 14,728 shares in the company, valued at approximately $2,855,759.20. The disclosure for this sale can be found here. Insiders sold 12,242 shares of company stock valued at $2,422,377 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of SPS Commerce in the fourth quarter valued at approximately $74,977,000. Norden Group LLC lifted its stake in SPS Commerce by 2,034.7% during the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock valued at $39,138,000 after acquiring an additional 201,764 shares in the last quarter. APG Asset Management US Inc. bought a new position in SPS Commerce during the 4th quarter valued at $18,779,000. Axiom Investors LLC DE boosted its holdings in SPS Commerce by 183.0% during the 4th quarter. Axiom Investors LLC DE now owns 130,556 shares of the software maker’s stock worth $25,307,000 after acquiring an additional 84,420 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of SPS Commerce by 662.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock worth $17,065,000 after acquiring an additional 78,805 shares in 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.