SPS Commerce (NASDAQ:SPSC) Shares Gap Up Following Analyst Upgrade

SPS Commerce, Inc. (NASDAQ:SPSC) shares gapped up before the market opened on Friday after Robert W. Baird raised their price target on the stock from $172.00 to $178.00. The stock had previously closed at $169.43, but opened at $180.00. Robert W. Baird currently has a neutral rating on the stock. SPS Commerce shares last traded at $181.96, with a volume of 55,382 shares changing hands.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $205.00 price objective on shares of SPS Commerce in a research report on Friday. Citigroup initiated coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They set a “buy” rating and a $216.00 price objective on the stock. Finally, StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.57.

Insider Activity at SPS Commerce

In related news, COO James J. Frome sold 12,887 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.27, for a total value of $2,310,252.49. Following the transaction, the chief operating officer now owns 44,369 shares of the company’s stock, valued at approximately $7,954,030.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Kimberly K. Nelson sold 12,907 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.41, for a total value of $2,315,644.87. Following the transaction, the chief financial officer now owns 157,251 shares of the company’s stock, valued at approximately $28,212,401.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO James J. Frome sold 12,887 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the completion of the transaction, the chief operating officer now directly owns 44,369 shares in the company, valued at approximately $7,954,030.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,688 shares of company stock valued at $12,122,275. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SPS Commerce

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted 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 in the last quarter. Arkadios Wealth Advisors increased its stake 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 buying an additional 64 shares during the last quarter. Wealth Alliance increased its stake 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 buying an additional 71 shares during the last quarter. Parkside Financial Bank & Trust increased its stake 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 buying an additional 79 shares during the last quarter. Finally, Stifel Financial Corp increased its stake 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 buying an additional 80 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Performance

The stock has a market cap of $6.64 billion, a PE ratio of 97.79 and a beta of 0.79. The company’s 50 day simple moving average is $178.97 and its 200 day simple moving average is $179.08.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. Equities research analysts expect that SPS Commerce, Inc. will post 2.13 earnings per share for the current year.

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.