Needham & Company LLC Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $210.00

SPS Commerce (NASDAQ:SPSC) had its target price cut by Needham & Company LLC from $230.00 to $210.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research firms have also commented on SPSC. Piper Sandler assumed coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target for the company. Stifel Nicolaus lowered their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Northland Securities reiterated a “market perform” rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a report on Tuesday. Citigroup lowered their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Robert W. Baird upped their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Stock Performance

Shares of SPSC opened at $148.50 on Tuesday. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 71.05 and a beta of 0.88. SPS Commerce has a fifty-two week low of $147.27 and a fifty-two week high of $218.61. The firm has a 50 day moving average price of $186.73 and a 200-day moving average price of $189.28.

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

Insider Transactions at SPS Commerce

In other news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This represents a 30.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,230 shares of company stock valued at $6,379,187 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of SPS Commerce

Institutional investors have recently bought and sold shares of the company. Barclays PLC grew its position in SPS Commerce by 209.6% during the 3rd quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock valued at $12,890,000 after purchasing an additional 44,946 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in SPS Commerce during the 3rd quarter valued at about $3,178,000. Synovus Financial Corp purchased a new stake in SPS Commerce during the 3rd quarter valued at about $1,809,000. JPMorgan Chase & Co. grew its position in SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after purchasing an additional 104,210 shares during the last quarter. Finally, State Street Corp grew its position in SPS Commerce by 1.1% during the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after purchasing an additional 16,357 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.