Robert W. Baird Issues Pessimistic Forecast for SPS Commerce (NASDAQ:SPSC) Stock Price

SPS Commerce (NASDAQ:SPSC) had its target price trimmed by Robert W. Baird from $188.00 to $175.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Several other research firms have also weighed in on SPSC. Stifel Nicolaus reduced their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price on the stock. Citigroup lowered their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Needham & Company LLC decreased their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Northland Securities restated a “market perform” rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Trading Down 13.8 %

Shares of SPS Commerce stock opened at $152.72 on Tuesday. SPS Commerce has a twelve month low of $148.00 and a twelve month high of $218.61. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 73.07 and a beta of 0.88. The business’s 50 day simple moving average is $187.58 and its 200-day simple moving average is $189.54.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. Sell-side analysts predict that SPS Commerce will post 2.38 earnings per share for the current year.

Insider Activity

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the transaction, the chief financial officer now owns 147,002 shares of the company’s stock, valued at $26,620,592.18. The trade was a 5.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,230 shares of company stock worth $6,379,187. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in SPS Commerce by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker’s stock worth $852,032,000 after buying an additional 67,687 shares in the last quarter. State Street Corp grew its position in shares of SPS Commerce by 1.1% during the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock worth $280,398,000 after purchasing an additional 16,357 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of SPS Commerce by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock worth $242,437,000 after purchasing an additional 21,170 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SPS Commerce by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock worth $182,287,000 after acquiring an additional 14,174 shares in the last quarter. Finally, FMR LLC boosted its position in shares of SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after acquiring an additional 104,769 shares in the last quarter. 98.96% of the stock is 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.