Stifel Nicolaus Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $165.00

SPS Commerce (NASDAQ:SPSC) had its price target lowered by Stifel Nicolaus from $175.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other research firms also recently commented on SPSC. Morgan Stanley initiated coverage on shares of SPS Commerce in a research report on Monday, July 14th. They issued an “overweight” rating and a $180.00 target price on the stock. Cantor Fitzgerald initiated coverage on shares of SPS Commerce in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 target price for the company. Needham & Company LLC reduced their price objective on shares of SPS Commerce from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday. Wall Street Zen upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Robert W. Baird lifted their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and a consensus target price of $165.80.

SPS Commerce Stock Down 4.6%

SPS Commerce stock opened at $103.88 on Thursday. SPS Commerce has a 52-week low of $103.18 and a 52-week high of $204.21. The company’s 50 day moving average is $137.36 and its two-hundred day moving average is $143.38. The firm has a market cap of $3.94 billion, a PE ratio of 47.65 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.10. The company had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. On average, equities research analysts anticipate that SPS Commerce will post 2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SPS Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of SPSC. Teacher Retirement System of Texas grew its holdings in SPS Commerce by 10.7% in the second quarter. Teacher Retirement System of Texas now owns 41,504 shares of the software maker’s stock valued at $5,648,000 after purchasing an additional 4,015 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of SPS Commerce during the second quarter worth $2,726,000. Nisa Investment Advisors LLC raised its holdings in SPS Commerce by 10.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,542 shares of the software maker’s stock valued at $210,000 after acquiring an additional 151 shares in the last quarter. AlphaQuest LLC raised its holdings in SPS Commerce by 2.5% in the second quarter. AlphaQuest LLC now owns 6,628 shares of the software maker’s stock valued at $902,000 after acquiring an additional 159 shares in the last quarter. Finally, Alamar Capital Management LLC acquired a new stake in SPS Commerce in the second quarter valued at $204,000. 98.96% of the stock is currently owned by hedge funds and other 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.