SPS Commerce (NASDAQ:SPSC) Coverage Initiated at Piper Sandler

Piper Sandler initiated coverage on shares of SPS Commerce (NASDAQ:SPSC) in a report issued on Monday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $198.00 target price on the software maker’s stock.

Other equities analysts also recently issued research reports about the company. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Stifel Nicolaus lifted their price target on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird increased their price objective 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. Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.78.

SPS Commerce Stock Down 0.4 %

NASDAQ:SPSC opened at $192.57 on Monday. The firm has a market capitalization of $7.23 billion, a PE ratio of 92.14 and a beta of 0.84. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74. The firm has a 50-day moving average price of $186.66 and a 200 day moving average price of $191.27.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, research analysts expect that SPS Commerce will post 2.39 EPS for the current year.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SPS Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new stake in shares of SPS Commerce in the 1st quarter valued at approximately $329,000. BOKF NA raised its holdings in SPS Commerce by 89.8% in the first quarter. BOKF NA now owns 1,682 shares of the software maker’s stock worth $310,000 after purchasing an additional 796 shares during the period. Janus Henderson Group PLC boosted its position in shares of SPS Commerce by 1.7% during the first quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker’s stock worth $9,117,000 after purchasing an additional 813 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of SPS Commerce in the 1st quarter valued at $465,000. Finally, Moody National Bank Trust Division increased its position in shares of SPS Commerce by 4.8% in the 2nd quarter. Moody National Bank Trust Division now owns 14,255 shares of the software maker’s stock valued at $2,682,000 after buying an additional 650 shares in the last quarter. Institutional investors own 98.96% of the company’s stock.

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.