Needham & Company LLC Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $210.00

SPS Commerce (NASDAQ:SPSC) had its price objective decreased by stock analysts at Needham & Company LLC from $230.00 to $210.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 18.53% from the stock’s current price.

A number of other research firms have also recently commented on SPSC. Robert W. Baird lifted their price target on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Stifel Nicolaus decreased their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Citigroup cut their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Piper Sandler assumed coverage on shares of SPS Commerce in a report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective on the stock. Finally, Northland Securities reiterated a “market perform” rating and issued a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $213.89.

SPS Commerce Stock Down 0.6 %

Shares of SPS Commerce stock opened at $177.17 on Tuesday. The stock has a market cap of $6.66 billion, a P/E ratio of 84.77 and a beta of 0.88. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.61. The business’s 50 day moving average is $188.36 and its 200-day moving average is $189.93.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. On average, sell-side analysts expect that SPS Commerce will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. This represents a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the transaction, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at approximately $4,167,776.20. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,230 shares of company stock worth $6,379,187 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPSC. Barclays PLC boosted its holdings in shares of SPS Commerce by 209.6% in the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after purchasing an additional 44,946 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in SPS Commerce in the third quarter valued at about $3,178,000. Synovus Financial Corp bought a new position in SPS Commerce in the third quarter valued at about $1,809,000. JPMorgan Chase & Co. raised its stake in SPS Commerce by 69.4% during the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after acquiring an additional 104,210 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after acquiring an additional 16,357 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

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.