Needham & Company LLC Reiterates Buy Rating for SPS Commerce (NASDAQ:SPSC)

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $230.00 price objective on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 25.81% from the company’s current price.

Several other research analysts have also weighed in on SPSC. Stifel Nicolaus upped their price target on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Piper Sandler assumed coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target for the company. Finally, Robert W. Baird raised their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $220.78.

SPS Commerce Stock Down 0.6 %

SPSC opened at $182.81 on Friday. SPS Commerce has a 52-week low of $160.58 and a 52-week high of $218.74. The company has a market cap of $6.87 billion, a P/E ratio of 87.47 and a beta of 0.86. The company has a 50 day moving average of $185.67 and a two-hundred day moving average of $191.38.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. The company had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. Research analysts anticipate that SPS Commerce will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the transaction, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPS Commerce

A number of hedge funds have recently made changes to their positions in the company. Pathstone Holdings LLC increased its stake in SPS Commerce by 0.3% in the third quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock valued at $3,820,000 after purchasing an additional 54 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in SPS Commerce by 4.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock valued at $256,000 after acquiring an additional 55 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock worth $237,000 after acquiring an additional 58 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in SPS Commerce by 2.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock worth $449,000 after acquiring an additional 62 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

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.