SPS Commerce (NASDAQ:SPSC) Trading Down 3.9%

SPS Commerce, Inc. (NASDAQ:SPSC)’s share price was down 3.9% on Wednesday . The company traded as low as $178.18 and last traded at $179.14. Approximately 115,574 shares were traded during trading, a decline of 27% from the average daily volume of 158,352 shares. The stock had previously closed at $186.41.

Analyst Ratings Changes

SPSC has been the topic of several recent analyst reports. Northland Securities upgraded shares of SPS Commerce from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $175.00 to $177.00 in a research note on Friday, October 27th. StockNews.com initiated coverage on SPS Commerce in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. DA Davidson initiated coverage on shares of SPS Commerce in a research report on Tuesday. They set a “buy” rating and a $200.00 target price for the company. Craig Hallum upped their target price on shares of SPS Commerce from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $205.00 price target on shares of SPS Commerce in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.43.

SPS Commerce Price Performance

The firm’s 50 day simple moving average is $169.00 and its two-hundred day simple moving average is $171.80. The firm has a market capitalization of $6.34 billion, a P/E ratio of 102.83 and a beta of 0.80.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 26th. The software maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. The firm had revenue of $135.66 million for the quarter, compared to the consensus estimate of $134.20 million. SPS Commerce had a return on equity of 12.21% and a net margin of 12.20%. As a group, equities research analysts forecast that SPS Commerce, Inc. will post 1.87 EPS for the current year.

Insider Activity

In related news, CFO Kimberly K. Nelson sold 11,631 shares of SPS Commerce stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $159.69, for a total value of $1,857,354.39. Following the transaction, the chief financial officer now directly owns 147,234 shares of the company’s stock, valued at $23,511,797.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Kimberly K. Nelson sold 10,215 shares of SPS Commerce stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $164.67, for a total value of $1,682,104.05. Following the sale, the chief financial officer now directly owns 147,234 shares in the company, valued at approximately $24,245,022.78. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kimberly K. Nelson sold 11,631 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $159.69, for a total value of $1,857,354.39. Following the transaction, the chief financial officer now owns 147,234 shares of the company’s stock, valued at approximately $23,511,797.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,902 shares of company stock valued at $4,915,416. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPSC. Ameritas Investment Partners Inc. increased its position in shares of SPS Commerce by 2.4% during the first quarter. Ameritas Investment Partners Inc. now owns 2,913 shares of the software maker’s stock valued at $444,000 after buying an additional 69 shares during the period. Legacy Wealth Asset Management LLC raised its position in shares of SPS Commerce by 4.0% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 1,915 shares of the software maker’s stock worth $368,000 after acquiring an additional 73 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of SPS Commerce by 3.6% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,232 shares of the software maker’s stock worth $287,000 after acquiring an additional 78 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in shares of SPS Commerce by 0.9% in the 2nd quarter. Zions Bancorporation N.A. now owns 9,288 shares of the software maker’s stock valued at $1,784,000 after purchasing an additional 79 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of SPS Commerce by 8.1% during the third quarter. Parkside Financial Bank & Trust now owns 1,051 shares of the software maker’s stock valued at $179,000 after purchasing an additional 79 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.