SPS Commerce (NASDAQ:SPSC) Rating Reiterated by Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They presently have a $205.00 target price on the software maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 14.55% from the company’s current price.

Several other research firms have also recently commented on SPSC. Citigroup initiated coverage on SPS Commerce in a research note on Wednesday, March 13th. They set a “buy” rating and a $216.00 target price for the company. StockNews.com cut SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and an average target price of $196.57.

SPS Commerce Price Performance

SPSC opened at $178.96 on Friday. SPS Commerce has a 12 month low of $140.00 and a 12 month high of $218.74. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. The business has a fifty day moving average price of $178.97 and a 200 day moving average price of $179.08.

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

Insiders Place Their Bets

In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the sale, the director now directly owns 89,940 shares of the company’s stock, valued at approximately $16,137,034.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO James J. Frome sold 2,901 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the sale, the chief operating officer now directly owns 54,029 shares of the company’s stock, valued at approximately $9,904,596.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Archie C. Black sold 12,875 shares of the business’s stock in a transaction dated 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 completion of the sale, 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. Insiders sold 66,688 shares of company stock valued at $12,122,275 in the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Several institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in SPS Commerce by 10.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker’s stock valued at $114,000 after acquiring an additional 56 shares during the period. Arkadios Wealth Advisors increased its position in SPS Commerce by 1.7% in the 4th quarter. Arkadios Wealth Advisors now owns 3,789 shares of the software maker’s stock valued at $734,000 after acquiring an additional 64 shares during the period. Wealth Alliance increased its position in SPS Commerce by 4.4% in the 4th quarter. Wealth Alliance now owns 1,674 shares of the software maker’s stock valued at $324,000 after acquiring an additional 71 shares during the period. Parkside Financial Bank & Trust increased its position in SPS Commerce by 8.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,051 shares of the software maker’s stock valued at $179,000 after acquiring an additional 79 shares during the period. Finally, Stifel Financial Corp increased its position in SPS Commerce by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 29,603 shares of the software maker’s stock valued at $5,051,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 98.96% of the company’s stock.

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.