SPS Commerce (NASDAQ:SPSC) Price Target Raised to $178.00

SPS Commerce (NASDAQ:SPSC) had its price objective lifted by Robert W. Baird from $172.00 to $178.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other research firms have also recently commented on SPSC. Needham & Company LLC reissued a buy rating and set a $205.00 target price on shares of SPS Commerce in a research note on Friday. Citigroup assumed coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They set a buy rating and a $216.00 target price for the company. Finally, StockNews.com cut shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, SPS Commerce currently has an average rating of Moderate Buy and an average price target of $196.57.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $178.96 on Friday. The company has a market cap of $6.63 billion, a P/E ratio of 97.79 and a beta of 0.79. The firm has a 50-day simple moving average of $178.97 and a two-hundred day simple moving average of $179.20. SPS Commerce has a fifty-two week low of $140.00 and a fifty-two week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. Equities research analysts forecast that SPS Commerce will post 2.13 EPS for the current year.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the sale, the director now owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the business’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 directly owns 44,369 shares in the company, valued at approximately $7,954,030.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares in the company, valued at $3,102,631.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,688 shares of company stock valued at $12,122,275. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Several institutional investors and hedge funds have recently bought and sold shares of SPSC. Norges Bank acquired a new position in SPS Commerce in the 4th quarter valued at about $74,977,000. Wellington Management Group LLP lifted its holdings in shares of SPS Commerce by 4,691.6% in the 3rd quarter. Wellington Management Group LLP now owns 277,913 shares of the software maker’s stock worth $47,415,000 after acquiring an additional 272,113 shares during the last quarter. Norden Group LLC lifted its holdings in shares of SPS Commerce by 2,034.7% in the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after acquiring an additional 201,764 shares during the last quarter. Comerica Bank acquired a new position in shares of SPS Commerce in the 3rd quarter worth approximately $23,356,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of SPS Commerce by 27.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 594,624 shares of the software maker’s stock worth $101,449,000 after acquiring an additional 128,788 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.